A general ledger provides a complete record of financial transactions for a business. Learn how it works and why it is important in our guide.

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 ...

Subsidiary Ledger Vs. General Ledger. Accounting is a detailed process for recording and reporting a company's financial information. Businesses often use several different ledgers and journals to ...

Examples of a general ledger The general ledger is used differently depending on the account in question, but the balance sheet is the best-known use of it, so we’ll start with that as an ...

Worse still, rebalancing the ledger can delay other recording or reporting, which only compounds a company’s headaches. What is the General Ledger Used For? The general ledger summarizes the many ...

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 ...

General Journals vs. General Ledgers: An Overview 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 ...