answersLogoWhite

0

A general ledger is a detailed report of transactions that make up the current statement. This is helpful during an internal or external audit whether by the irs or the company itself.

User Avatar

Wiki User

12y ago

What else can I help you with?

Related Questions

Who invented the general ledger?

It is not known who invented the general ledger but use of it can be traced back to Genoa in 1340. General ledgers are used in accounting.


What is another name for General Ledger?

Another name for the General Ledger is Nominal Ledger.


How much does a payroll accountant make?

The median salary for a payroll accountant is $48,000. Accountants can make a larger salary if they are experienced with Microsoft Excel and General Ledger Accounting programs.


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?


When was Certified General Accountants of Ontario created?

Certified General Accountants of Ontario was created in 1957.


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 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.


What are general ledger accounts?

he general ledger is a collection of the firm's accounts. While the general journal is organized as a chronological record of transactions, the ledger is organized by account. In casual use the accounts of the general ledger often take the form of simple two-column T-accounts. In the formal records of the company they may contain a third or fourth column to display the account balance after each posting.


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.


When to capitalize General Ledger?

"General Ledger" should be capitalized when it refers to a specific accounting system or document, as it is a proper noun in that context. For example, you would write, "The General Ledger for the month of January is complete." However, when using the term generically to describe the concept of a ledger, it can be written in lowercase, such as "We need to update the general ledger."