General Ledger Extended DefinitionThe general ledger serves as a place to record your business’s transactions. The general ledger includes a date, name, description, and balance for each account. The main accounts used in a general ledger are: ...
What is a general ledger with example? There are many examples of a general ledger as they record every financial transaction of a firm. Furniture account, salary account, debtor account, owner’s equity, etc., are some examples. Below is one example. ...
“General ledger.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/general%20ledger. Accessed 24 Feb. 2025. Copy Citation Share Post the Definition of general ledger to Facebook Facebook Share the Definition of general ledger on Twitter Twitter Love...
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What is a general ledger account? What is the difference between entries in a general journal versus a general ledger? What is a general ledger? What is the purpose of subsidiary ledgers? What is the difference between a general ledger and a general journal? What is the difference between a...
General ledger The main accounting record of a company or organization. The accountant updates the general ledger every month. 3 General strike A strike involving all workers in a particular geographic location or industry. The union called for a general strike to demand better wages. ...
The General Ledger Setup page includes generic fields, and fields that are particular to your country or region. If you're unsure of the meaning of a field, we suggest you work with your accountant to determine whether it's relevant to your organization. Hover over a field to read a short...
Definition:The general ledger or ledger is a record of all the accounts that the company uses. In all modern accounting systems, the general ledger is computerized. A general ledger divides accounts into three account types: assets, liabilities, and equity accounts. ...
Themeaning of ledger in accountingrefers to daily business transaction records maintained by accountants. An account is a record in the general ledger. Ledger accounts examples include debt, depreciation, cash, inventory, salaries, fixed assets, income tax expense, accounts payable, accounts receivable...
A general ledger is a record of all of a company’s, and its subsidiaries’, assets, liabilities, expenses, income and equities. General ledgers are generally broken down into records of accounts and account balances and financial transactions and from there, if necessary, into subledgers. How...