Ledger!

A ledger is a major book or computer file for recording and preparing economic transactions accounted by accounts items, There are debit and credit in individual column, start of balance indicates the end of the money balance of the each account.

The general ledger is a permanent summary of all accounts included in the supports views and list the individual transactions in daily order. Each transaction moves from one magazine to one or more accounts. The company financial statement are generated summarizing the book's total.

General ledger is a collection of company's accounts of accounting record. The general ledger provides a comprehensive list of the financial transactions in the business life cycle. The general ledger contains account information necessary for financial reporting and includes accounts of assets, liabilities, exclusive interest, income and expenses.

The use of general ledger is the part of t he system the account uses to prepare the company financial statement. The transaction is posted to the general ledger account and the accountant creates a report showing the test balance, all the accounts of each account and multiply account. The balance of the test is adjusted by adding additional entries and the balance of the test is used to generate the financial statement.

The business organization card is the model of the system number of the ledger that contains all the department account used in the business. Each general account is assigned to the number that is available in all the department. Number are also assigned to individual accounts within each department.

Most small business enter-or-four -digit number for each account, depending on the of the transactions. At the end of the accounting cycle, the amount amount of individual account in each department is added and used for preparing the financial statement.

In the account book:

• Sales ledger, receivable notes. This book is made up of financial transactions performed by the customers of the company.
• Book saves money for corporation acquisition.
• General ledger representing accounts of five main types of assets, liabilities, revenue, expenses and the capital.
• A scattered ledger once called a shared ledger is a copy of the copied, distributed, and synchronized digital geographic data distributed across multiples sites, countries and institution.
• For each digital recorded in the ledger, the equivalent credit must be made so that the debit is equal to the total credit.

The general accounts are the accounts or recorded used to start and store balance and the revenue transaction. Example of general ledger accounts includes the assets accounts such as cash, accounts receivable, inventory , investment, land and equipment. Example of general account liabilities includes accounts payable, accrued expenses and and the customer deposit. Example of general ledger income statement including sales, service fee, salary cost, lease expenses, advertising expenses, interest expenses, and the loss of sales assets.Some accounts in the general ledger summarize record called accounts checks. Detail supporting each control account are outside the general ledger called a large back book. An account is an example of the general ledger management account and there is a registration of a subsidiary that includes credit activities of the each customer. Inventory,equipment and accounts of the general account are controlled to be paid and subsidiaries in the book contain supplementary document for each.