[elpapasongote]

What is a general ledger?

[gaurav_neha]

what is a general ledger?

It is book or a computer file, where u can post all the journal enteries to a specific account... The general ledger should include the date, description and balance or total amount for each account. It is usually divided into at least seven main categories. These categories generally include assets, liabilities, owner's equity, revenue, expenses, gains and losses. The main categories of the general ledger may be further subdivided into sub-ledgers to include additional details of such accounts as cash, accounts receivable, accounts payable, etc.