General Ledger Details

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  • Official comment
    Benjamin George

    Hi Vincent,

    Thank you for the feedback! This is indeed a commonly requested update from the community.

    Below is an update that we'll be releasing soon where we've added an editable memo field which will reflect the description field. If all goes well, you can expect this update along with many other reporting updates to be rolled out next Wednesday. We're currently in our final phase of testing.

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  • vincent yap

    My opinion is not workable if you want the account keeper to re-key in the "Memo" again or even you provide of dropdown list to select the lines of description in transaction. It is double work to them and is not meeting your company vision & mission to simplifying the data entry steps.

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  • Benjamin George

    Hi Vincent,

    The memo field will be available on all transactions, invoices and bills but also made editable directly from the General Ledger Detail report. 

    We can explore further enhancing the feature once it is rolled out, for example automatically reflecting item description should the memo field be left empty or adding a suggestive memo description based on previous entries etc.

    Nevertheless, we've taken note on your concerns.

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  • Benjamin George

    Hi Vincent Yap,

    Just dropping a quick note to inform that we've rolled out the update which allows you to input memos when raising invoices or any other transactions. These memos are viewable on the general ledger detail report.

    Do share with us your thoughts on this new update :)

    Regards,

    Travis Tai

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  • vincent yap

    I don't think this is the right way to suit your objective. account keeper with least accounting knowledge has to key a few lines of item, description and they will lost when see there is another field call summary - memo? For my guess, in their mind they will think that what am I suppose to summarise if the scenario is 1st line buy stationery, second line buy paper and 3rd line buy stamps.

    Furthermore, I have to make double sets of description like picture below if I really want to get the real detailed general ledger. Just my opinion.

    Regards,

    Vincent

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  • caseyltl29

    I echo Vincent's request above.


    Reason being, all the transactions need to be reviewed for tax computation. Without meaningful description for each of the transaction, we are not able to interpret the entries. Some transactions would have tax implication.

    For example, in Singapore, expenses for business vehicle is tax-deductible but private vehicle expenses are not.
    If there's ONE bill charging all the repair expenses for multiple vehicles (both corporate and private vehicles included), how do we differentiate them in UPKEEP OF VEHICLE GL? We cant possible indicate everything at the memo whereby obviously the character limitation is there. Plus, we cannot waste time keying in long description (eg Van A - RM100, Van B - RM2250, Van C - RM440, Vehicle 1, RM300 etc.....) However, we can indicate vehicle details for each of the line when we key in individual amount.

    If we have additional column showing all the description entered in GENERAL DETAILS REPORT, we will be able to identify which amount is meant for which vehicle. It's just a COMPLETE data populated by Financio for the users.

    Thus, i honestly hope that Financio can look into enhancing this very basic and essential feature so that we can see the transaction details. Same goes to Journal entries where we are not seeing any description at all.

    The GL data is almost useless without the transaction details.

     

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  • Mighty Glory Corporate Solutions

    Despite our numerous reminders on this matter, Financio works in other areas (e.g. OCR, bank feeds, etc). Hope to receive more users' feedback so that the upper management will take this to heart. GL details plays a critical role in tax and audit. What is the use of printing GL for auditor if the report cannot tell the basic info on the transaction nature?

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  • caseyltl29

    If Financio's Accounts Department is using this GL report themselves and submit for Audit review, i really wanted to know if there's any feedback from the Auditor? I would also like to know if their reporting team find any issue interpreting the GL details generated from Financio? Speaking to Financio's own accounting team should be a great start, i suppose?

    I saw a few posts requesting for transaction details months ago but seems like no progress?

    Pretty sad and frustrating....

     

     

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  • vincent yap

    if not mistaken, the technical team is aiming to create as simple easy to understand accounting entries format for management level reading but not for technical accounting level and auditing purpose. so if u r aiming to use this to replace offline accounting software, think twice. u will spend double time cost when u r asked abt the details.

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  • caseyltl29

    Financio team,

    Any update please?? This is a genuine need to produce meaningful report and i have seen at least 2 requestor asking for the same. Thus, please update the status.

    Thank you.

     

     

     

     

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