The General Ledger and Trial Balance reports use the same underlying data set. Trial Balance gives you a summary of the debits and credits of your ledger, while the General Ledger report is intended to give a detailed view of your ledgers for the timeframe specified in the date field. 


Access

If you are an accountant or business owner and would like to use the GL Report in Molo, please have your Molo subscriber put in a support ticket or email support@getmolo.com requesting access for the relevant users.


General Ledger (GL) Report Modes

You can run the GL report in several different modes:

  1. By Default the report will run in a formatted view where each ledger is summarized and spaced out.
  2. Display Compact View allows the download of a CSV type file, that can be ingested into your accounting program.
  3. Run for Entire Company will run the GL for each Marina Location under your company (if your company has multiple locations) and display all ledger results along with which marina location they belong to.


A Guide to the Letter Prefixes in the Line ID column of General Ledger

  • A = Entries to Accounts Receivable from Invoice and Credit Note Line Items
  • AP = Entries to Accounts Payable
  • AT = Entries to Accounts Receivable from Transactions Not 1-to-1 Linked to an Invoice or Credit Note Line Item
  • AU = Entries that Arose from Inventory Audit Trail Entries
  • C = Cost of Goods Sold (COGS) Entries from Invoices and Credit Notes
  • CAU = Cost of Goods Sold (COGS) Entries from Inventory Audits
  • D = Entries to Discount GL from Invoice and Credit Note Line Item Discounts
  • DR = Entries from Deferred Revenue Recognition Records
  • I = Entries to Inventory from Invoices and Credit Notes
  • IAU = Entries to Inventory from Inventory Audits
  • P = Entries to Payment GL's from Payments, Refunds, and Prepayments (Deposits) Linked to Invoice Line Items
  • PT = Entries to Payment GL's from Payment, Refund, and Prepayment Transactions Not 1-to-1 Linked to an Invoice or Credit Note Line Item
  • R = Entries to Revenue arising from Invoices or Credit Notes
  • T = Entries from to Taxes from Invoices and Credit Notes


Configuration for the GL and Trial Balance Reports


The GL codes used for each Molo Marina location can be updated and changed under the Admin section of Molo. By default, these sections of Molo are turned off, but can be enabled for certain users at the request of the business owner or accountant.  Please use the following Admin menus to configure the GL report for Molo:


  • Admin -> GL Codes - This section allows you to create/edit the GL codes that will be used across all sections of Molo, similar to a Chart of Accounts you may be familiar with for your accounting software.
    • GL Code Parameters

      Each GL Code has 4 parameters, with the behavior described below:

      • Name - This is the name of the GL account, for example "Fuel Sales"
      • Code - This is the code of the GL account, for example "4100"
      • Type - The type of account, for example "Current Asset", "Revenue", "Cost of Goods Sold", etc.
      • Default Tracking Code [Optional] - If you are using tracking codes, this will be the default Tracking Code assigned when that GL code is selected for use. The default Tracking Code is just a suggestion to aid end users when adding/editing inventory items, and can be changed or removed. 
        • If you are not using tracking codes for GL but would like to, please reach out to support@getmolo.com to enable them.
  • Admin -> Tracking Codes - This section allows you to configure optional Tracking Codes that can be used in combination with GL Codes to allow additional granularity under each GL Code. This is often used with REIT business structures to separate OpCo and PropCo categories.
  • Admin -> GL Settings - Some system-level GL codes will be set under the GL Settings section. These include codes for categories such as your AR, Payments, Discounts, and Taxes GL codes.


Deferred Revenue for Molo General Ledger Reporting

The Molo GL report supports deferred revenue. The setup for deferred revenue in the Molo GL report is complex, and is best left to your accountant or business owner, working together with your Molo Account Manager. For an overview of how deferred revenue works in the Molo GL report, please review this video to see if the deferred logic is best for your business!