GL sub-account or sub-ledger: A subsidiary account that contains more precise details about individual transactions. Chart of accounts (CoA): A list of every account in the general ledger ...

Transaction data is segregated by type into accounts for assets, liabilities, owners’ equity, revenues, and expenses. A general ledger is the foundation of a company’s double-entry accounting ...

The next columns will list each of the accounts to be used ... and lastly any equity accounts. The general ledger uses double entry bookkeeping to keep track of all of the company’s transactions ...

Each line item in the balance sheet will reflect multiple entries in the general ledger for accounts like inventory, depreciation, debt, and retained earnings. Each entry must be balanced so that ...

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 ...

For accounting departments, no software is more important than the general ledger system. It’s the central hub that summarizes all financial transactions, providing the essential data needed to ...