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 ledgers are called subsidiary ledgers ...

Using the ledger-to-ledger transaction accounting method keeps track of your business activities. Each transaction is analyzed and recorded in the appropriate ledger. With the exception of the general ...

The evolution of ledger systems can be traced back to the early days of human civilisation, where simple record-keeping forms were used to track transactions and assets. Over time, the development of ...

General ledger records each transaction both as a debit and a credit, ensuring balance. Understanding the general ledger aids in interpreting financial statements like balance sheets. Investors can ...

An accounting ledger of a business that shows its expenses, transaction history, and amounts owed to each supplier. The ledger extends credit from a supplier and gives the business time to pay for the ...