Ledgers ensure the accuracy and integrity of an operation's financial records and facilitate analysis, decision-making, and compliance with regulatory requirements.
In Ventrata, ledger entries are created based on bookings in the Bookings table. Each time a transaction is made in a booking, a new ledger entry is created by the system. Access Ledgers from the Transactions tab in the navigation.
Prerequisites:
You have set up ledger codes.
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If you need guidance on how to create ledger codes, read our article on Ledger Codes. It is also recommended to reach out to your Customer Success Specialist to ensure your accounting needs are covered and are compatible with your ERP system.
Make sure that your products' ledger-related settings are configured to the expected behaviour.
Product Setting | Description |
Voucher Validity | for open-dated bookings, set up a voucher validity that fits your operation |
Scan Tolerance After | set up how long after a tour began tickets can be scanned |
Scan Tolerance After Offset Duration | include the duration of the attraction in the 'Scan Tolerance After' calculation; tickets can be scanned after 'Duration' + the 'Scan Tolerance After' |
Automatically Undefer Ledgers | enable if you want bookings of this product to be automatically set to 'No-show' or 'Redeemed' once the ticket validity period has expired |
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For the full list of product settings, read more in Product Configuration.
Using the Ledgers Table
The table of ledgers is write only and nothing should be removed from this table unless absolutely necessary to maintain accuracy.
Ledger Entries
When a booking is made, a new ledger entry is automatically created for each transaction in the booking.
If a booking is made on the same day as the travel date, the booking is automatically flagged as undeferred ( the 'Deferred' column contains a NO ), because the tickets are immediately redeemed.
A booking made for a future travel date is flagged as deferred ( the 'Deferred' column contains a YES ) because the travel date has not yet passed and unforeseen circumstances may void the potential revenue from this sale; the customer may cancel their booking, for instance.
Whenever a deferred booking changes into an undeferred booking, i.e. after the booking's travel date, a new line is created for each 'movement' on the ledger.
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The 'Deferred' column indicates whether a transaction from a booking can be recognised as revenue. It cannot be recognised as revenue until the travel date has passed. Only after the travel date can the system tell whether tickets were used ('Redeemed') or not and the customer did not show up for the tour ('No-show').
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Visit the Ledgers page to find out what individual elements on the page represent.
Summary Report
Each entry is automatically assigned a ledger code based on the rules previously set up in Supplier Settings > Ledger Codes . Ledger codes stand for individual accounts to categorise transactions.
To gain an understanding of all the transactions within a period of time, you can generate a Summary Report.
In the 'Date' column, select the date range or one of the presets for the period of time you are interested in
Press the Search button.
Press the checkbox in the header row of the table to select all entries.
Press the Bulk Action button in the action bar and select 'Summary Report'.
The Summary Report is an overview of your DEBITS and CREDITS, organised using the ledger codes. The total of your DEBIT column should equal that of your CREDIT column. Occasionally, instead of a ledger code you will see a question mark, which indicates that there might be something wrong with how your ledger codes are set up or you are missing a rule to capture the specific transactions, see Recreate Ledger to learn more.
Press the Download Summary button to download the table in xlsx format. You can then export this file to any format supported by your ERP system for further processing of ledger data.
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By default, entries are grouped by 'Currency'. You can add further granularity to your summary report by grouping entries by additional parameters, for example 'Order', which groups the results also by order reference.
Recreate Ledgers
Occasionally, instead of a ledger code you will see a question mark, which indicates that there might be something wrong with how your ledger codes are set up or you are missing a rule to capture the specific transactions. As you adjust ledger rules to capture all the necessary data for accurately analysing your operation's transactions, you may need a method to bulk reapply new or modified ledger codes to your transactions.
In the Ledgers table, tick the checkbox on the far left of the header row to select all entries or select individual entries by ticking their checkboxes.
Press the Bulk Action button in the action bar and select 'Recreate Ledgers'.
Press the Recreate Ledgers button.
You will notice that an additional checkbox is available in the modal window. If you tick the 'Also re-create ledger entries', historical ledger entries will be also changed.
⛔️ WARNING
Once live, please contact your Customer Success Specialist before re-creating ledger codes.
Manual Ledger Entries
In instances where you wish to capture transactions that are created outside the bookings table such as reseller invoices and invoice payments, you have the option to create manual ledger entries.
In those cases, you can also create ledger codes specifically designed to capture manual entries.
On the Ledgers table, press the + New Ledger button.
Select a destination (optional).
Assign a ledger code to the entry (optional).
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This action assigns the entry to an account. Make sure that the code captures the intended transaction.
Select the date of the transaction.
Select the currency from the drop-down field.
📒 NOTE
Only currencies made available in your Supplier Settings are available for selection.
Enter a price.
📗 TIPThis is the amount of the transaction, be it the invoice amount or the payment made.
Enter a quantity as appropriate.
You can add a description in the 'Notes' field to help other users understand what transaction the entry represents.
Press the Create Ledger button.
When you reopen the ledger, you can update the details of the ledger, add an attachment, or delete the entry.
