The general ledger plays an important role in the accounting process. Most businesses use a two-entry financial accounting system where transactions are first recorded in a general journal and later ...

A small business must record all transactions related to customer sales and payments on the company's general ledger and accounts receivable ledger. Journal entries are used to record these ...

How Ledgers and Journals Are Used in Accounting Get an overview of these fundamental bookkeeping tools. Ledgers and journals are the foundational tools used in the bookkeeping process. A ledger is a ...

The general ledger is a vast historical data archive of your company’s financial activities, including revenue, expenses, adjustments, account balances, and often much more. The detailed transactions ...