What is a general ledger transaction?

Answer Accountants track revenue, expenses, profit, assets, liabilities and equity changes in the daily flow of business. All tracking entries are made in a general ledger (GL) book and called GL transact... Read More »

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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 »

How to Understand the General Ledger?

Within the Accounting Department of a business, the general ledger is an important component. Records of the company’s accounts are stored in the general ledger. Included are accounts for curren... Read More »

What is general ledger coding?

A general ledger code is an accounting code used to distribute the costs of payment invoices, order releases and invoices. General ledger lookup keys and general ledger key components are the basis... Read More »