What is a general ledger system?

Answer A general ledger system is a form of double book accounting. A company's overall finances are entered into one general ledger. Specific financial information is entered into a number of subsidiary ... Read More »

Top Q&A For: What is a general ledger system

Difference Between a General Journal & General Ledger in Accounting?

Accountants use different tools when recording and reporting a company's financial transactions. Two of the most common tools are the general journal and general ledger. Most -- if not all -- compa... Read More »

What is a general ledger used for?

A general ledger is one of the two principal ways of organizing business transactions. The first is a journal, which lists accounts by time. The second is the general ledger, which organizes inform... Read More »

What is a general ledger reconciliation?

The primary purpose of a general ledger reconciliation is to ensure the accuracy of the basic data input into the company's books. The general ledger is the full collection of all accounts included... Read More »

What is a general ledger report?

A general ledger is an accounting system used by many businesses to keep track of basic financial information such as sales, accounts receivable and accounts payable. A general ledger report is a s... Read More »