How a General Ledger Functions With Double-Entry Accounting A general ledger is used by businesses that employ the double-entry bookkeeping method, which means that each financial transaction ...

How Double-Entry Bookkeeping Works The double-entry system creates a balance sheet made up of assets, liabilities, and equity. The sheet is balanced because a company’s assets will always equal ...

Convert your daily General Journal data into a more extensive, yet focused, General Ledger using Excel in this tip from Mary Ann Richardson. Many businesses keep a journal of their daily transactions, ...

Look at the transaction you plan to record in the general ledger. Turn to the section in the ledger under which the transaction falls. Your ledger should have a section for each type of ...