General ledger records company transactions, vital for interpreting financial statements. It operates on a double-entry system to balance debits and credits, ensuring accuracy. Understanding the ...

A general ledger stores and organizes the data that are itemized in a firm’s financial statements. A general ledger represents the record-keeping system for a company’s financial data ...

andresr / Getty Images When it comes to tracking the finances of a business, a double-entry accounting system that uses both a general ledger and a general journal is usually the best method for ...

It’s not only important for businesses in terms of record keeping and general business management ... it’s wise to understand the basics of accounting if you’re running a business.