General Ledger Purchase Example. The general ledger is also known as the main or nominal ledger, because it holds both sides of double-entry transactions. In contrast, the purchase and sales ...

The following general ledger/commitment items are used to record expenses as category 2 and 3 of the Statement of Financial Activity (SoFA) report. The categories are outlined alphabetically. Each ...

An accountant lists this $5,000 in the debit column of the general ledger. Every month, the employee pays a total of $1,682.50 in federal income taxes, FICA tax and Medicare tax.

Sync general ledger accounts in real-time for live reconciliation. Automate the import of subledger data (e.g., A/P, A/R, and payroll) to reduce manual data entry.