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 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 »

Introduction to General Ledger?

A company's general ledger is a detailed listing of every business transaction. The amount of information input into the general ledger will depend on the business owner's preferences as well as th... 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 »