How to add additional grouping of ledgers in Balance Sheet, Income and Expense, Trial Balance, etc?

In Mygate Society Admin, administrators have the flexibility to create custom groupings of ledgers for improved tracking, organization, and financial management. This feature allows you to classify similar types of income, expenses, assets, or liabilities under specific headers or categories based on the society’s unique accounting needs.

Once ledgers are grouped, these custom groupings will automatically reflect across key financial reports, including:

1. Balance Sheet

2. Income & Expense Statement

3. Trial Balance

This ensures better visibility and control over the society’s financial health and simplifies the process of financial analysis, audits, and reporting.

Please follow the steps below to add an additional grouping of ledgers: 

1. Go to accounts and select the chart of accounts.

2. Click on the Pencil icon against the Ledger you want to group. 

3. Click on Add Ledger group under Ledger group and clcik on save. 

4. You can use the same process to group all the ledgers under one ledger group. 

5. Once your grouping is done, it will reflect on the Balance Sheet and the Trial Balance.

Balance Sheet

Trial Balance

Income & Expense Statement

The groups created under the Income and expense category, same will reflect under the income and expense statement.

Note: Ledgers that do not contain any transaction data will not appear in the Balance Sheet, Trial Balance, and Income & Expense Statement.