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The Fees Ledger Practice summary displays totals for postings made into the Fees Ledger. The current year tab lists items posted into the current Fees Period, and the periods year to date.
To access the Fees Ledger Practice Summary:
Enter the Fees Ledger.
Click Enquiries.
Select Practice Summary.
The Fees Ledger practice Summary screen displays.
The brought forward field displays the debtor balance that has been brought forward from the previous Fees period. For example, a brought forward of £3000 for 2003/10 shows that the balance as at the end of 2003/9 was £3000, and the starting balance for 2003/10 is £3000.
Displays is the sum of all invoices posted within the Fees Ledger for the selected period, excluding VAT, for the current financial year. For example, an invoice posted for £100 with a VAT element of £17.50 will have a net figure of £117.50. The Invoices (ex-VAT) field will display this as £100.
For a break down of the invoices making this total click the magnifying glass.
Displayed is the sum of all credit notes posted within the Fees ledger for the selected period, excluding VAT, for the current financial year. For example, a credit note posted for £100 with a VAT element of £17.50 will have a net figure of £117.50. The credit note (ex-VAT) will display £100.
For a break down of the invoices making this total click the magnifying glass.
Displayed is the sum of all receipts posted within the Fees Ledger, including standing order payments, excluding VAT for the current financial year.
For a breakdown of receipt postings make this total click the magnifying glass.
Displayed is the sum of all refunds posted within the Fees Ledger, for the current financial year.
For a breakdown of receipt postings make this total click the magnifying glass.
Displayed is the sum of all write off postings made with the Fees Ledger for the current financial year. Included are write offs without a VAT adjustments (posted to write off proforma invoices), and writeoffs with a VAT deduction (posted to write off invoices that had added VAT to the practice VAT output).
For a breakdown of receipt postings make this total click the magnifying glass.
Displayed is the total VAT posted for the selected period for invoices posted. For example, £10 000 invoice in the month of January will produce a VAT element of £1 750, (when all invoices are posted at 17.5%).
Displayed is the sum of all opening balances, and miscellaneous credits and debits, ex-VAT posted in the Fees Ledger for the current financial year.
Displayed is the debtor balance to be carried forward to the next Fees Ledger period. The debtor balance is calculated by adding the totals of postings entered into the current period (see above) to the brought forward balance for the current period. For example, period 2003/10 has a brought forward balance of £10 000. The total of invoices, receipts and credit notes is £3 000 and with no other posting made into the period, so the balance to be carried forward will be £13 000.
Displayed is the value of VAT transferred from the VAT reserve to the VAT liability.
For practices cash accounting VAT on invoices is posted to a VAT reserve. To transfer the VAT reserve to the VAT liability, and so declare VAT, the invoice can be matched to receipt received from the client.
Displayed is the value of VAT on invoices posted to the VAT reserve for the current financial year. For example, from 2003/1 to 2003/10, when 2003/10 is your current Fees Ledger period.
The Fees Ledger practice summary is split into two sections; the totals for the current Fees Ledger Period and the totals for Fees postings year to date. For both these columns totals of the value postings, totals of number of postings are displayed. For example, for the current period (2003/10) there are 10 postings totalling £1000.
Current Fees Period The current Fees Period column displays totals of Fees postings made into the current Fees Ledger period. The debit column displays items increasing the debtor balance, such as an invoice, and the credit column displays item decreasing the debtor balance, such as a receipt.
Total period year to date The totals year to date displays totals of postings for the current financial year. For example, when a practice's current period is 2003/10, the current period to date column will display posting from 2003/1 to 2003/10. The debit column displays items increasing the debtor balance, such as an invoice, and the credit column displays item decreasing the debtor balance, such as a receipt.
To display the Fees Ledger practice summary for previous periods click Previous Periods. If you are currently on Fees Ledger period 2003/10, then the previous
period button return to 2003/9.
To display the Fees Ledger practice summary for the next period click Next Period. For example, if you are currently viewing 2003/4, then the Next Period option will display period 2003/5.
To display this years Fees Ledger Practice summary figures, and the previous years figures click Print. This can be displayed on screen, printed, or saved as a document.
To exit click Cancel.
Fees Ledger Practice Summary
Fees Ledger Practice Summary - Last year
Time Ledger Practice Summary