Once the general ledger is created, journal entries are made when transactions occur in your business and journal entries fall into the appropriate sub or main GL account. Keep in mind, not all GL main accounts have sub-accounts. For example, some businesses have more than one bank account s...
In accounting, a general ledger is divided into five major components: assets, liabilities, equity, revenue, and expenses. Each of these may be further subdivided into subledgers, such as "office supplies" or "payroll." In each case, the number of debits and credits must be equal w...
Once the journal entries are posted to the ledgers, the posting reference column can be filled out with the ledger number or abbreviation that the entry was posted to. The ledgers can then be used to make a trial balance and eventually a set of financial statements....
Financial Recordkeeping: Maintain accurate and up-to-date financial records for residential properties, including accounts payable, accounts receivable, general ledger entries, and reconciliations. Budget Management: Assist in the development and monitoring of annual budgets for residential properties. Track ...