folio numbers

System
System Posts: 100,537 🤖 Admin 🤖
edited June 9 in AAT member discussion
can anyone tell me if folio numbers are pre set if so what are they or do i just start from L1 when i am doing accounts

Comments

  • System
    System Posts: 100,537 🤖 Admin 🤖
    folio numbers

    Can you give some more details, then I will try to answer<BR>What do the folio numbers relate to - eg petty cash items, supply invoices?<BR>Are you using computerised or manual system? If computerised, which software?<BR>Is it a new or exisiting business you are working on? Are there any existing bookkeeping records?<BR><BR><BR>
  • System
    System Posts: 100,537 🤖 Admin 🤖
    folio numbers

    Folio numbers originate from the time when accounts were done completely manually - i.e. hand-written. It was the number for each account in the Ledger book, and was printed in the corner, normally at the top. This made it easier to find which account you needed as you had a contents list in the front of the book.<BR><BR>So all a folio number is really is a reference number, traditionally, in accounting, one for each account. But it can be used for anything else that needs reference numbers. (the dictionary definition is that it is a double sized piece of paper folded in two to make up the pages of a book.)<BR><BR>You can, therefore use any numbering system which is suitable, but it may be better to group the different type of accounts together, using letters if you wish (e.g. S1, etc for sales - B1 etc. for bank). <BR><BR>If you are using Sage or any other programme which uses numbers then the Account/folio numbers are there for you already.<BR><BR>If you are starting from scratch, you can make your own up (if you want/need to) or if there is a system in place then you follow that.<BR><BR>

Categories

Privacy Policy