Hi guys, I wonder if there is any function to show the ledgers down to each subaccount / special account in the reports (like the general ledger transaction).
For example, we borrowed money from some banks, and I created a control account named “Bank loans”, then I created a special account for each bank (Bank A, Bank B, etc.).
In the balance sheet, we see the total of loans under “Bank loans” in Liability. This is fine. However, if I created a report of general ledger transaction, I cannot see the details for EACH BANK while what we need is some like this:
Bank loans - Bank A
(Date - Description, Debit, Credit, Balance)
Bank loans - Bank B
(Date - Description, Debit, Credit, Balance)
…
Any solution? Or maybe I should study the “custom report” function? Kindly note we do it to include the bank loans in one general ledger transactions report so the manager can view the movement of all accounts in one report.
In order to see a separate general ledger transactions for every account in the report, you must create a control account for every loan account. You can put these control accounts under a group and set it to collapse in financial statements.
Thanks. what’s the different between creating a control account for every loan account and just create a regular account for each loan and put them under a group in the chart of accounts?
In agreement with @Abeiku, see guidance on loans at Use special accounts | Manager
So for each Loan Account also create a Control Account. These control accounts will now show up in the Chart of Accounts and as advised you could group the loan accounts under a Group that you need to create. If needed then you could collapse that group in financial statements as described.
Thanks @eko
I’m new to Manager and may not understand this well. If I create a Control Account for each Loan Account, then what’s the point of using Control Account at all? Wouldn’t it be easier to just create an ordinary Balance Sheet account for each loan?
In my understanding, Control Account is designed as a tool for managing flexible subaccounts, like customer accounts as new customers may come all the time, so we can just update the customers registry instead of creating a new account. In this case the General Ledger Transactions report does show the names of customers under the Accounts Receivables sub-ledger.
However in the case of Special Accounts (Custom Control Accounts) like the Bank Loans in the topic, the General Ledger Transactions report does not show any further information about the names of banks. We would be happy if there is any paid solution like the cloud version to solve it.
Well, your original post was about special accounts which are basically sub-accounts under a control account.
One benefit of using Special Accounts is the ability to establish accounts in currencies other than the base currency. For instance, if you have a bank loan account and wish to maintain it in a currency different from your base currency.
