The general ledger is also known as the main or nominal ledger, because it holds both sides of double-entry transactions. In contrast, the purchase and sales ledgers are called subsidiary ledgers ...

Maintaining a general ledger helps you gauge a business's financial health and avoid accounting mistakes. Learn what a ...

Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

General ledger records each transaction both as a debit and a credit, ensuring balance. Understanding the general ledger aids in interpreting financial statements like balance sheets. Investors can ...

A general ledger contains all balance sheet and income statement accounts. A general ledger controlling account represents a summary of transactions recorded in a subsidiary ledger. In turn, a ...