Ledger account
One row in the chart of accounts, such as Bank Charges. Not to be confused with a bank account, which is a real place money lives.
In Solo Superstars
When you categorize a bank transaction, you are choosing its ledger account. When Alison suggests a category, she is suggesting a ledger account. Reports are sums of ledger accounts over a date range.
Each bank account you add is paired with a ledger account in the 10xx (asset) or 21xx (liability) range so the two never drift apart.
Example
Your Chase checking account (a bank account) is paired with 1010 Checking (a ledger account). The statement lives on the first; the balance sheet reads the second.
Codes shown are the defaults a new workspace starts with. Yours may be renamed or renumbered — check Accounting › Chart of accounts. See the full default chart.
Also called
- account
- category
- GL account
Related
- Chart of accounts — The list of buckets your money can be sorted into: assets, liabilities, equity, revenue, expenses. New workspaces start with a default set you can rename or extend.
- Bank account — A real place money lives: checking, savings, a credit card, a line of credit, cash on hand. Each one gets its own ledger account automatically.
- Account code — The four-digit number on a ledger account. The first digit tells you the class: 1 assets, 2 liabilities, 3 equity, 4 revenue, 5 cost of goods sold, 6–7 expenses, 8 other income, 9 other expenses.
- General ledger — Every journal line, grouped by account, in date order. The full history behind any number on a report.