Ledger General Ledger, Subsidiary Ledger

May 19th, 2015
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The general ledger is the main accounting record of a business which uses double-entry bookkeeping. It will usually include accounts for such items as current assets, fixed assets, liabilities, revenue and expense items, gains and losses. Each General Ledger is divided into debits and credits sections.

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Ledger General Ledger, Subsidiary LedgerA ledger contains summarized financial information that is classified by assignment to a specific account number using aChart of Accounts.A ledger can be a physical book or also refer to software or spreadsheets where the financial information is recorded.A General Ledger contains a summary of all the information recorded in subsidiary ledgers, which are ledgers that break down and show more information according to classifications.Financial information for ledgers is taken from the company'sjournal.Also Known As:Book of Final EntryThegeneral ledgeris the main accounting record of a business which usesdouble-entry bookkeeping. It will usually includeaccountsfor such items as currentassets, fixed assets, liabilities, revenue and expense items, gains and losses. Each General Ledger is divided into debits and credits secti

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