A general ledger provides an accountant with the necessary information to create a financial statement. Thus, the ledger plays an essential role in informing the businessm… See more

A general ledger should be divided into different categories referred to as ‘accounts.’ This ensures that you have independent control over the accuracy of the ledger. … See more

A general journal is a document that holds the initial transaction records of a business. The general journal is, therefore, the original book of entry. First, the records are posted in r… See more

When drafting a general ledger, you should ensure an account name and account number at the top of the ledger table. The account name and number enable you to track specif… See more