What is the definition of a general ledger?

Answer The general ledger contains the summary of all financial transactions needed to prepare end-of-period financial statements. This ledger provides the basis for preparation of the company income stat... Read More »

Top Q&A For: What is the definition of a general ledger

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 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 »

What is general ledger accounting?

General ledger accounting is a double-entry system of recording transactions that occur in a company. Every transaction is recorded in the general ledger, and information is readily available for t... Read More »

What is a general ledger system?

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 »