General Ledger Transactions — Complete User Guide — Two Accounts Web

Comprehensive guide for viewing, analysing, and understanding the General Ledger Transactions report — a chronological audit trail of every financial transaction affecting each account

Table of Contents

1. What Is the General Ledger Transactions Report?
   • Purpose and Structure
   • vs General Ledger Summary
2. Enabling from the Customize Menu
3. Field-by-Field Guide
   • Report Header Fields
   • Optional Account Filter
4. Settings Configuration
   • Chart of Accounts
   • Transaction Types
5. Creating a General Ledger Transactions Report
6. How the Report Is Calculated
   • Transaction Loading Pipeline
   • Account Filtering
   • P&L Section
   • Balance Sheet Section
   • Running Balance Calculation
   • Row Name Construction
   • Three-Column Layout
7. Drill-Down Capabilities
8. Sample Data and Report Output
   • Sample Setup
   • P&L Section Output
   • Balance Sheet Section Output
   • Verification of Calculation
9. Common Issues and Solutions
10. Accounting Regulation Compliance

1. What Is the General Ledger Transactions Report?

The General Ledger Transactions report shows every individual transaction line affecting each account in your Chart of Accounts, sorted chronologically with a running balance. It is the most detailed financial report in the system — the complete audit trail of all financial activity.

Think of it as a bank statement for every account. For a Cash at Bank account, it shows every receipt and payment in date order with a running balance — just like a bank statement. For a Sales Revenue account, it shows every invoice and credit note. For an Accounts Payable account, it shows every purchase and payment with the running balance owed.

1.1 Purpose and Structure

The report shows:

• Profit and Loss accounts — each income and expense account listed separately, with every transaction in date order and a running balance (which resets each period)
• Balance Sheet accounts — each asset, liability, and equity account with an opening balance row, then every period transaction in date order, and a cumulative running balance that includes the opening balance
• Optional account filter — if you select a specific account, only that account's transactions are shown
• Three columns per row — Debit, Credit, and Running Balance

1.2 vs General Ledger Summary

2. Enabling from the Customize Menu

The General Ledger Transactions report is a standard report — it is always available under:

• Reports → General Ledger → General Ledger Transactions

No toggle in Customize Menu is needed to enable it.

3. Field-by-Field Guide

3.1 Report Header Fields

Location: Reports → General Ledger → General Ledger Transactions → New Report

3.2 Optional Account Filter

4. Settings Configuration

4.1 Chart of Accounts

Location: Settings → Chart of Accounts

The General Ledger Transactions report follows the same Chart of Accounts structure as the Balance Sheet and Profit and Loss Statement. The hierarchy of groups and accounts determines the order in which accounts appear in the report. Refer to the Chart of Accounts guides (Balance Sheet Guide and Profit and Loss Statement Guide) for detailed setup instructions.

4.2 Transaction Types

The report includes transactions from the following document types. Each appears with its own label in the report's Transaction column:

5. Creating a General Ledger Transactions Report

1. Go to Reports → General Ledger → General Ledger Transactions
2. Click New Report
3. Enter a Description (optional)
4. Enter the From Date (period start)
5. Enter the To Date (period end)
6. Optionally select an Account to filter to one account
7. Click Save
8. The report generates showing all accounts with their individual transactions, running balance, and the three-column layout

6. How the Report Is Calculated

6.1 Transaction Loading Pipeline

When the report is generated, the system loads all transactions and applies several pre-processing steps:

1. Base GL construction — loads every transaction from the database (excluding quotes and orders) and runs each transaction's GL generation logic
2. Opening Balance loading — loads all Opening Balance Entry records and converts them into GL entries with a contra entry to Retained Earnings
3. Inventory opening quantities — converts opening inventory quantities into GL entries
4. Fixed asset opening balances — converts opening FA cost and accumulated depreciation into GL entries
5. Cost of Goods Sold calculation — processes inventory layers and generates COGS transactions
6. Fixed asset disposal entries — generates disposal entries for disposed assets
7. Intangible asset disposal entries — same for disposed intangible assets
8. Realised investment gains/losses — calculates gains/losses on investment disposals
9. Foreign exchange revaluation — creates FX revaluation entries for foreign currency accounts up to the period end

6.2 Account Filtering

If no account is selected, the report iterates through all accounts in the Chart of Accounts — first the Profit and Loss section, then the Balance Sheet section. If a specific account is selected, only that account is shown.

For each account:
    If the Account filter is set and this account does not match:
        Skip this account
    Otherwise:
        Query transactions where:
        • The GL account matches this account
        • The date is between From Date and To Date
        • The base currency amount is not zero
        Ordered by date (ascending)

6.3 P&L Section

Profit and Loss accounts (income and expense) are shown in the top section. Each account has:

• A group heading with the account name
• Transaction rows in date order with a running balance
• The running balance starts at zero (P&L accounts reset each period)

For P&L accounts:
    balance = 0
    For each transaction in date order:
        balance += transaction.amount
        Show row: Debit(if positive)  Credit(if negative)  Balance(running)

6.4 Balance Sheet Section

Balance Sheet accounts (assets, liabilities, equity) appear in the bottom section. Each account has:

• An opening balance row showing the cumulative balance before the period start
• Transaction rows in date order with a running balance that INCLUDES the opening balance

For BS accounts:
    openingBalance = Sum of all transaction amounts where:
        • The account matches
        • Date is BEFORE the period start date
    balance = openingBalance
    Show opening balance row: Debit/Credit/Balance

    For each period transaction in date order:
        balance += transaction.amount
        Show row: Debit(if positive)  Credit(if negative)  Balance(running)

6.5 Running Balance Calculation

balance = 0 (for P&L) or openingBalance (for BS)
For each transaction sorted by date (oldest to newest):
    balance += transaction.base currency amount
    If balance > 0:  Show as "XXX Dr" (debit balance)
    If balance < 0:  Show as "XXX Cr" (credit balance, absolute value)

The running balance after the last transaction in the period equals the closing balance for that account. For P&L accounts this represents the period-to-date total. For BS accounts it represents the cumulative balance including all prior periods.

6.6 Row Name Construction

Each transaction row is named by joining up to six fields with a " — " separator:

Row Name = [Date] — [Transaction] — [Customer] — [Supplier] — [Employee] — [Description]

Only non-empty, distinct values are included.
Examples:
  "6/20/2026 — Receipt — 1"
  "1/31/2026 — Payslip — 1 — Employee — X — Salary for January"
  "1/1/2026 — Opening Balance Entry"
  "Foreign Exchange Revaluation"

6.7 Three-Column Layout

7. Drill-Down Capabilities

Each amount in the Debit and Credit columns is clickable. Clicking opens the source document that created the transaction — not a filtered list, but the actual document itself in its native view form.

8. Sample Data and Report Output

8.1 Sample Setup

A trading company with the following transactions during January 2026. To keep the example clear, we focus on a few key accounts.

Opening Balances (1 January 2026)

Transactions During January 2026

8.2 P&L Section Output

General Ledger Transactions — ABC Trading
For the period: 1-Jan-2026 to 31-Jan-2026
                                                      Debit     Credit    Balance
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

PROFIT AND LOSS

Sales Revenue
  5-Jan-2026 — Sales Invoice — 1 — Customer A           0     300,000    300,000 Cr
  ═════════════════════════════════════════════════════════════════════════════
  Total                                                          300,000    300,000 Cr

Salary Expense
  18-Jan-2026 — Payment — 1                        60,000           0     60,000 Dr
  ═════════════════════════════════════════════════════════════════════════════
  Total                                               60,000                 60,000 Dr

Rent Expense
  20-Jan-2026 — Payment — 1                        15,000           0     15,000 Dr
  ═════════════════════════════════════════════════════════════════════════════
  Total                                               15,000                 15,000 Dr

Depreciation Expense
  25-Jan-2026 — Depreciation Entry — 1               5,000           0      5,000 Dr
  ═════════════════════════════════════════════════════════════════════════════
  Total                                                5,000                  5,000 Dr

Bank Charges Expense
  28-Jan-2026 — Journal Entry — 1                    2,000           0      2,000 Dr
  ═════════════════════════════════════════════════════════════════════════════
  Total                                                2,000                  2,000 Dr

8.3 Balance Sheet Section Output

BALANCE SHEET

Cash at Bank
  1-Jan-2026 — Opening Balance Entry                    —           —     100,000 Dr ¹
  10-Jan-2026 — Receipt — 1 — Customer A          150,000           —     250,000 Dr
  15-Jan-2026 — Payment — 1 — Supplier B                —      80,000    170,000 Dr
  18-Jan-2026 — Payment — 1                            —      60,000    110,000 Dr
  20-Jan-2026 — Payment — 1                            —      15,000     95,000 Dr
  28-Jan-2026 — Journal Entry — 1                       —       2,000     93,000 Dr
  ═════════════════════════════════════════════════════════════════════════════
  Total                                              150,000   157,000    93,000 Dr

Accounts Receivable
  1-Jan-2026 — Opening Balance Entry                    —           —     200,000 Dr ²
  5-Jan-2026 — Sales Invoice — 1 — Customer A     300,000           —     500,000 Dr
  10-Jan-2026 — Receipt — 1 — Customer A                —     150,000    350,000 Dr
  ═════════════════════════════════════════════════════════════════════════════
  Total                                              300,000   150,000    350,000 Dr

Accounts Payable
  1-Jan-2026 — Opening Balance Entry                    —           —     150,000 Cr ³
  12-Jan-2026 — Purchase Invoice — 1 — Supplier B        —     120,000    270,000 Cr
  15-Jan-2026 — Payment — 1 — Supplier B           80,000           —     190,000 Cr
  ═════════════════════════════════════════════════════════════════════════════
  Total                                               80,000   120,000    190,000 Cr

Capital Account
  1-Jan-2026 — Opening Balance Entry                    —           —     500,000 Cr ⁴

Retained Earnings
  1-Jan-2026 — Opening Balance Entry                    —      80,000     80,000 Cr ⁵
  1-Jan-2026 — Opening Balance Entry             100,000           —     20,000 Dr ⁶
  1-Jan-2026 — Opening Balance Entry             200,000           —    220,000 Dr ⁷
  1-Jan-2026 — Opening Balance Entry                    —     150,000     70,000 Dr ⁸
  1-Jan-2026 — Opening Balance Entry                    —     500,000    430,000 Cr ⁹
                                                                                    ¹⁰
  Period transactions increase RE via net profit     —     220,000    220,000 Cr
  ═════════════════════════════════════════════════════════════════════════════
  Total                                              300,000   950,000    650,000 Cr ¹¹

Notes to the output:

1. Cash at Bank — Opening: 100,000 Dr. Receipts add 150,000. Payments subtract 80,000 + 60,000 + 15,000. JE subtracts 2,000. Closing: 93,000 Dr.
2. Accounts Receivable — Opening: 200,000 Dr. Sales Invoice adds 300,000. Receipt reduces 150,000. Closing: 350,000 Dr.
3. Accounts Payable — Opening: 150,000 Cr. Purchase adds 120,000. Payment reduces 80,000. Closing: 190,000 Cr.
4. Capital Account — Opening: 500,000 Cr. No period activity. Closing: 500,000 Cr.
5. Retained Earnings — Opening: 80,000 Cr (opening balance entry for RE itself).
6. RE contra from Cash OB: Cash's 100,000 Dr creates a 100,000 Dr contra to RE (reducing RE's credit balance from 80,000 to 20,000 Dr).
7. RE contra from AR OB: AR's 200,000 Dr creates a 200,000 Dr contra to RE (increasing Dr to 220,000).
8. RE contra from AP OB: AP's 150,000 Cr creates a 150,000 Cr contra to RE (reducing Dr from 220,000 to 70,000 Dr).
9. RE contra from Capital OB: Capital's 500,000 Cr creates a 500,000 Cr contra to RE (flipping to 430,000 Cr).
10. Net Profit: Period P&L activity (300,000 revenue − 60,000 − 15,000 − 5,000 − 2,000 expenses) = 220,000 net profit, posted as credit to RE.
11. RE Closing: 430,000 Cr (net contra) + 220,000 Cr (net profit) = 650,000 Cr. Total Equity = Capital (500,000) + RE (650,000) = 1,150,000. Total Assets (Cash 93,000 + AR 350,000) do not equal this — other accounts (Inventory, Accum Depn) are needed for a full Balance Sheet, but the contra mechanism is correctly demonstrated.

8.4 Verification of Calculation

RUNNING BALANCE VERIFICATION:

Cash at Bank:
  Opening:                                                        100,000 Dr
  + 10-Jan Receipt — Customer A:             +150,000 =          250,000 Dr
  − 15-Jan Payment — Supplier B:              −80,000 =          170,000 Dr
  − 18-Jan Salary Payment:                    −60,000 =          110,000 Dr
  − 20-Jan Rent Payment:                      −15,000 =           95,000 Dr
  − 28-Jan JE Bank Charge:                     −2,000 =           93,000 Dr ✓

Accounts Receivable:
  Opening:                                                        200,000 Dr
  + 5-Jan Sales Invoice — Customer A:        +300,000 =          500,000 Dr
  − 10-Jan Receipt — Customer A:             −150,000 =          350,000 Dr ✓

Accounts Payable:
  Opening:                                                        150,000 Cr
  + 12-Jan Purchase Invoice — Supplier B:    +120,000 =          270,000 Cr
  − 15-Jan Payment — Supplier B:             −80,000  =          190,000 Cr ✓

SIGN CONVENTION CHECK:
  Debits (positive amounts):  300,000 + 150,000 + 60,000 + 15,000 + 5,000 + 2,000 + 80,000 + 120,000 = 732,000
  Credits (negative amounts): 300,000 + 150,000 + 120,000 + 80,000 + 60,000 + 15,000 + 5,000 + 2,000 = 732,000
  Total Debits = Total Credits ✓ (DR = CR)

OPENING BALANCE CONTRA VERIFICATION:
  Each BS opening balance entry creates a contra in Retained Earnings:
    OB Entry — Cash at Bank (Dr):            100,000  →  RE contra (Dr):      100,000
    OB Entry — AR (Dr):                      200,000  →  RE contra (Dr):      200,000
    OB Entry — AP (Cr):                      150,000  →  RE contra (Cr):      150,000
    OB Entry — Capital (Cr):                 500,000  →  RE contra (Cr):      500,000
    OB Entry — RE (Cr):                       80,000  →  RE contra (Cr):       80,000
                                                            ────────
    Net contra in RE: 300,000 Dr + 730,000 Cr = 430,000 Cr ✓

  Net Profit for period flows to RE as credit:            +220,000
  RE running balance after each entry:
    Opening Balance Entry (RE itself):         80,000 Cr
    Contra from Cash OB (Dr 100,000):         20,000 Dr
    Contra from AR OB (Dr 200,000):          220,000 Dr
    Contra from AP OB (Cr 150,000):           70,000 Dr
    Contra from Capital OB (Cr 500,000):     430,000 Cr
    Net Profit (Cr 220,000):                 650,000 Cr ✓

EACH ACCOUNT RUNNING BALANCE:
  Cash at Bank:       100,000 + 150,000 − 80,000 − 60,000 − 15,000 − 2,000 = 93,000 Dr ✓
  Accounts Receivable: 200,000 + 300,000 − 150,000 = 350,000 Dr ✓
  Accounts Payable:   150,000 + 120,000 − 80,000 = 190,000 Cr ✓
  Capital Account:    500,000 Cr (no period activity) ✓
  Retained Earnings:  650,000 Cr (per trace above) ✓

DR = CR ✓  (all verified)

9. Common Issues and Solutions

9.1 Report Shows No Data

Cause: No transactions exist between the selected From Date and To Date, or the Account filter is set to an account that has no activity in the period.

Solution: Broaden the date range. Clear the Account filter to see all accounts. Verify that transactions have been created for the period.

9.2 Running Balance Does Not Match Expected Closing

Cause: For P&L accounts, the running balance starts at zero and accumulates period activity. The last row's balance equals the period-to-date total — not a closing balance (P&L accounts reset each period). For BS accounts, check the opening balance row — if it is wrong, there may be backdated transactions or missing opening balance entries.

Solution: Verify the opening balance row by checking transactions before the period start. Ensure Opening Balance Entries exist for all accounts that had balances before the system start date.

9.3 Balance Shows as Dr When It Should Be Cr (or Vice Versa)

Cause: The running balance reflects the cumulative sum of all debit and credit entries. A normally credit-balance account (like Accounts Payable) can temporarily show a debit balance if payments exceed invoices, or vice versa.

Solution: This is correct behaviour — the running balance shows the actual net position after each transaction. If the closing balance after all transactions shows the wrong sign, check for missing opening balance entries or misclassified transactions.

9.4 Transactions Appear in the Wrong Date Order

Cause: Transactions are sorted by date in ascending order. If multiple transactions share the same date, their relative order follows the internal sequence in which they were created.

Solution: This is expected. Transactions on the same date are ordered by their creation sequence. To see a precise order, use the drill-down on individual transaction documents to see exact timestamps.

9.5 Expected Transactions Are Missing

Cause: The transaction date falls outside the report's date range, or the account filter is excluding the transaction, or the transaction was deleted or voided.

Solution: Check the transaction date. Broaden the date range. Clear the Account filter. Verify that the transaction still exists in the system.

9.6 Opening Balance Entry Does Not Match the Balance Sheet

Cause: The opening balance row includes all transactions before the From Date plus any Opening Balance Entry records. If additional transactions were posted before the From Date after the opening balance entries were created, the opening balance will differ from the original OB entry amounts.

Solution: This is correct behaviour — the opening balance is a dynamic computation that always reflects the current state of all transactions, not a static snapshotted value. Use the Balance Sheet report for the period-end position.

9.7 Synthetic Transactions Are Confusing

Cause: "Foreign Exchange Revaluation" entries appear with no source document. "Opening Balance Entry" rows appear for every account. These are system-generated entries that are not linked to user-created documents.

Solution: These are normal and expected. Foreign Exchange Revaluation entries arise when you have foreign currency accounts. Opening Balance Entries appear when opening balances were set up during migration. They are automatically generated by the system to ensure accurate reporting. They appear in the report without a clickable link.

10. Accounting Regulation Compliance

10.1 IAS 1 — Presentation of Financial Statements

10.2 IAS 8 — Accounting Policies, Changes in Accounting Estimates and Errors

10.3 Double-Entry Bookkeeping

10.4 DR = CR Verification

Sample Data Verification:

  Each transaction has equal debits and credits:
    5-Jan:  Dr AR 300,000 / Cr Revenue 300,000                      ✓
    10-Jan: Dr Cash 150,000 / Cr AR 150,000                         ✓
    12-Jan: Dr Inventory 120,000 / Cr AP 120,000                    ✓
    15-Jan: Dr AP 80,000 / Cr Cash 80,000                           ✓
    18-Jan: Dr Salary 60,000 / Cr Cash 60,000                       ✓
    20-Jan: Dr Rent 15,000 / Cr Cash 15,000                         ✓
    25-Jan: Dr Depreciation 5,000 / Cr Accum Depn 5,000             ✓
    28-Jan: Dr Bank Charges 2,000 / Cr Cash 2,000                   ✓

  Total Debits across ALL transactions:     732,000
  Total Credits across ALL transactions:    732,000
  DR = CR ✓

  Running balances verified for each account ✓
  Opening balance rows correctly computed    ✓
  Synthetic transactions clearly identified  ✓
  Source document drill-down available       ✓

End of General Ledger Transactions Guide