For entities using Divisions, HandiLedger allows revenue and expense accounts to be divisionalised.
Set up the Divisions
Log in to HandiLedger and Select your entity.
From the View menu, click Divisions.
Click New.
Enter a name for the division and a starting year, and click Save.
Click New to add another division or Close if you have set up all the divisions.
Divisional Chart of Accounts
Once the Divisions have been added, you will have a set of Revenue and Expense accounts for each division as well as a Master division.
The Master division is used for posting all asset, liability and equity account entries. It can also be used to post sales and expense items that cannot be apportioned to a particular division.
Divisional Reports
HandiLedger includes the following reports for entities with Divisions:
Divisional Trial Balance
Divisional Trading Account
Divisional Profit and Loss
The reports will show the revenue and expense items allocated to the divisions, as well as the amounts that cannot be apportioned to a particular division.
Note: Divisional accounting should be used with entities where the divisions share a bank account. If the divisions have separate bank accounts, branch accounting may be a better option.