Payment Ledger
A Separate Ledger that only records transactions on Receivable and Payable accounts. Account type should be set to Receivable or Payable for transactions to be recorded in Payment Ledger.
Ex:
A Sales Invoice of ₹1000 and a Payment Entry against that invoice will look like below. 
Usage
Reports
Accounts Receivable, Account Receivable Summary, Account Payable and Account Payable Summary uses Payment Ledger as its source.
Tools
Payment Reconciliation and its extension Semi-Auto Payment Reconciliation tools uses Payment Ledger to calculate outstanding Invoices. Reconciliation process only updates Payment Ledger.
Payment Ledger
ruthra edited 2 years agoPayment Ledger
A Separate ledger to record transactions on receivable and payable accounts.
Design
'Debit' and 'Credit' fields are replaced by 'Account Type' and 'Amount'(which can take both +ve and -ve values). If Voucher,
- increases account balance - amount has +ve value
- decreases account balance - amount has -ve value
Key Fields
- Account Type - Receivable/Payable
- Account - Account Name
- Party - Party Name
- Voucher No - Voucher affecting account balance
- Against Voucher No - Linked voucher
- Amount - Voucher amount
Example:
A Sales Invoice of ₹1000 and a Payment Entry against that invoice will look like below.
Flowchart of Old and New Design
Old Design
New Design
Advantage
Consider a scenario, where a payment is reconciled against a sales invoice. In the old design, this would require the Payment Entry's GL entries to be cancelled and new GL entries with the link to sales invoice will be reposted.
With the new design, there is on need to touch GL Entry. Only Payment Ledger will be updated.