The three main ledgers in the Micronet system are:
These ledgers are distinct and separate from one another and operate autonomously. They have their own structures and separate data files. They can, however, draw upon each other to share files and data.
The Distribution system is the ledger that maintains your customers and the goods you buy and sell. You sell your stock to customers, so it is natural that you need to maintain it alongside your customer transactions.
The Creditors Ledger is the ledger that maintains your suppliers and the outstanding monies you owe these suppliers. In its separateness, you can effectively track and maintain your debts and commitments.
The General Ledger is the ledger that sorts, compiles, summarises and reports the financial transactions for the business as a whole. It records the occurrences within the Distribution and Creditors Ledgers, while also recording other business transactions that take place outside the scope of those two ledgers.
These three ledgers are the cornerstone of the Micronet system, however, there are many subsidiary ledgers that are available which act as extensions of the Distribution system. They provide more comprehensive operational and reporting facilities to industries that are unique or that require stricter control and maintenance of specific areas within their business operations. These subsidiary ledgers/products range from Point of Sale (retail operations and cash registers), Kitting (manufacturing), Job Costing (job-related industries), and Metal Roll Forming (roofing industries).
In context to the General Ledger, reference may be made to any of these ledgers because their processes undoubtedly affect its data files. Therefore, it is important that a classification is made from the outset to establish these ledgers into distinct financial categories: