Use of Group Accounts in Sales and Purchases

This guide covers the use of group accounts in sales and purchases. 

In Netvisor, group receivables and liabilities can be added as separate accounts in the chart of accounts. However, for group transactions, the accountant must update the ML, MS, OL, and OS vouchers with these group accounts instead of the default liability/receivable account. Currently, there is no automation available for this.

It is not possible to add other sales receivables and purchase liabilities accounts to the reconciliation view than the accounts set as default in the ledgers. If other receivable and liability accounts, such as group accounts, are used in the vouchers of sales and purchase invoices, a discrepancy will appear in the reconciliation view due to this. The accountant manually reconciles the group accounts with sales and purchases. For the reconciliation view, the balances of the group accounts per the month under review should be listed. The summed amounts are compared to the discrepancy in the reconciliation view -> the amounts should be the same.