Maintaining a general ledger helps you gauge a business's financial health and avoid accounting mistakes. Learn what a ...

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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 ...

Accounting and bookkeeping are complex practices that require the ability to keep track of countless transactions. There’s always money coming in and going out of a business. To ensure it’s all ...

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 ...