General ledger

PropLink runs a full double-entry general ledger. Every receipt, every payment, every credit note, every freeholder payout, every reconciliation step posts to the ledger automatically. You almost never need to write a journal by hand, but when you do, PropLink supports that too.

Chart of accounts

The chart of accounts is the list of ledger accounts your organisation uses. PropLink seeds a sensible starting set the first time an organisation is created:

• Assets — bank accounts, debtor control, prepayments.
• Liabilities — creditor control, deposits held, accruals.
• Equity — retained earnings.
• Income — service charges, ground rent, admin fees, interest.
• Expenses — repairs, insurance, cleaning, gardening, management fees, utilities, professional fees, bad debts.
• Reserve fund — held in trust for future major works.

You add, rename, archive or reorder ledger accounts under Settings → Financial settings → Ledger accounts.

Add a ledger account

1. Open Settings → Financial settings → Ledger accounts → Add account.
2. Enter the name and code (your internal numbering).
3. Pick the account type (asset, liability, equity, income, expense, reserve).
4. Choose whether the account is archivable, active, or both.
5. Save.

Account types and posting rules

Every account has a type that controls how it behaves:

PropLink applies the right side of the entry automatically when you record any transaction. You only ever pick the account, not the side.

What posts automatically

Most ledger entries are produced by the day-to-day workflows:

You should rarely need to write a manual journal except for corrections, transfers between accounts or year-end adjustments.

Manual journal entries

For genuine adjustments:

1. Open Financials → General ledger → New journal.
2. Set the date the journal should affect.
3. Add lines. Each line picks an account and an amount, debit or credit.
4. The total of debits must equal the total of credits.
5. Optionally attach a supporting document (a calculation, an email, a board minute).
6. Submit for approval.

Every manual journal needs an approver to post to the ledger. The approver sees the journal, the supporting document and the resulting effect on each account.

Reading account history

Every ledger account has a history page showing every entry that has ever posted to it:

1. Open Settings → Financial settings → Ledger accounts.
2. Click the account.
3. The history shows every entry in chronological order: date, source (which invoice, payment or journal), debit, credit and running balance.

Click any source row to drill into the underlying record. Every entry on the ledger has a clear provenance.

Period locking

To stop late edits affecting closed periods, lock periods after year-end:

1. Open Settings → Financial settings → Period locking.
2. Pick the date through which to lock.
3. Confirm.

Once locked, no new entries can post into the locked period. Reversals and corrections must use a date in the open period. You can unlock a period if you have the Unlock period permission, but the action is recorded in the audit log.

Year-end procedures

At the end of each financial year:

1. Lock all routine activity for the year.
2. Run the Trial balance report and check it ties to your control accounts.
3. Make any final adjustments via manual journals.
4. Lock the period.
5. PropLink rolls retained earnings into next year automatically.
6. Generate the year-end pack and send it to leaseholders.

See Trial balance and Service charge year-end pack.