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SUB LEDGER (Depatmental Operating Accounts)
An account in the Sub Ledger has a non-zero first digit (eg. 3-3XXXX) and reflects all budget, revenue, expense and encumbrance activity for the current year. Except for a very few cases, all requisitions should be prepared using Sub Ledger accounts.
GENERAL LEDGER
An account in the General Ledger has zero as its first digit (eg. 0-3XXXX) and reflects the cumulative status to date of the account. The most important information on the General Ledger account statement is the fund balance account control (3X00, where X represents the second digit of the account number). This amount is the cumulative account balance. If the amount is a credit (negative figure) there is a surplus in the account. If the amount is a debit (positive figure) there is a deficit in the account.
What else can I help you with?
What is difference between Nominal Ledger general ledger?
General ledger is just another name given to nominal ledger. Nominal ledger is a ledger that maintains impersonal accounts like sale , purchase, capital etc.
What is the difference between a general ledger and a trial Balance?
A general ledger shows complete financial transactions over the life of a company. The trial balance just shows debits and credits of the business.
What is a general ledger also known as?
A nominal ledger
Should general ledger be capitalized if refering to it like General Ledger entries?
In general, "general ledger" should not be capitalized when used in a sentence unless it is part of a title or a heading. Therefore, you would typically write "general ledger entries" in lowercase. However, if you are referring to a specific system or software that uses "General Ledger" as part of its official name, then capitalization would be appropriate in that context.
What is the Difference between cash book and ledger?
Day book is the book which we use to record day today record,but Ledger is a book in which we keep classified data
What is forward sub ledger?
A forward sub ledger is the opening balance of your subledger. A subledger is known as the individual ledgers WITHIN the general ledger. For example, The debtors SUBLEDGER is also known as the detailed Debtors Trial balance or the Accounts receivable ledger The creditors SUBLEDGER is also known as the detailed Creditors Trial balance or the Accounts payable ledger
What is difference between Nominal Ledger general ledger?
General ledger is just another name given to nominal ledger. Nominal ledger is a ledger that maintains impersonal accounts like sale , purchase, capital etc.
What is posting in accounting?
Posting is recording in the ladgers information from journal. Posting is always from journal.
What is the difference between a general ledger and a trial Balance?
A general ledger shows complete financial transactions over the life of a company. The trial balance just shows debits and credits of the business.
Difference between cash book and ledger?
noob
What is another name for General Ledger?
Another name for the General Ledger is Nominal Ledger.
The principal ledger that contains all the balance sheet and income statement accounts is the general ledger?
general ledger
What is the purpose of the general ledger?
what is the purpose of the ledger?
What is a general ledger also known as?
A nominal ledger
What record that contains all accounts of company?
general ledger, general journal, special ledger, special journal, column balance ledger.
Should general ledger be capitalized if refering to it like General Ledger entries?
In general, "general ledger" should not be capitalized when used in a sentence unless it is part of a title or a heading. Therefore, you would typically write "general ledger entries" in lowercase. However, if you are referring to a specific system or software that uses "General Ledger" as part of its official name, then capitalization would be appropriate in that context.
What is the Difference between cash book and ledger?
Day book is the book which we use to record day today record,but Ledger is a book in which we keep classified data
