- How can I check the size of my account?
- What are ledger items and how are they created?
- How can I determine what items make up your ledger count?
How can I check the size of my account?
Accounts in QuickFile are graded from Extra Small (XS) to Extra Large (XL). You can find out the size of your account in the Company Settings area, along with the various sizes and thresholds (please see here for more details).
What are ledger items and how are they created?
The ledger items form the backbone of your accounting records, they are identifiable from your Chart of Accounts report and are typically created from things like invoices, purchases, journals, bank entries etc. Any one of these items can create multiple ledger entries often posted in balancing pairs to two different nominal ledgers.
How can I determine what items make up your ledger count?
Once you have the ledger count you may be interested to know what items are contributing to this total. For this purpose the Chart of Accounts is your key reference point.
Go to the Reports menu then open the Chart of Accounts.
Now on the Chart of Accounts you will see an aggregate total of amounts posted to your various nominal ledgers over a set period of time. The first thing you will want to do is change the date period to reflect the last 12 months, this will align with our sample period for measuring the account size.
The Chart of Account will give you balancing amounts rather than a count of the ledger items. So what you can do now is drill down into each nominal account to see how many ledger items make up those totals. You can do this by clicking on the blue magnifying glass icon.
Now in the top right corner of the ledger detail screen you will see the number of ledger entries making up that total.
For each line of activity on your Chart of Accounts you can now deduce the number of entries that make up that total. The sum of all ledger items will make up the value visible in your Company Settings page.