General Ledger is a Group of accounts that are stored in a book or in electronics means containing all the transactions related to a business.A General ledger contains information that are required for the preparation of final accounts. All account of a business brought together for easy management of accounting is called general ledger.The term GL is used in short for General Ledger.

A general ledger generally contains the accounts of assets,liability,capital, expense and Income. While considering all account balance in a general ledger, The total of debit balance should be equal to credit balance as in double entry system as every business transactions have equal debit and credit.

A general ledger creates a systematic accounting environment in a business which helps to create the trail balance quickly. A general ledger arrange accounts chronologically,transactions are categorized and summarized in pages or electronic files called accounts. In a general ledger  We create separate pages for each account and in computerized accounting ledger information shows in electronic file format.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!

Related pages

uses of tally erp 9cheque receiving formattds reconciliation formatit slab fy 2013 14vouchers in tallyexample of trial balance worksheetcreditors and debtors meaningadjusting journal entry for depreciationa trial balance is prepared tomonth end closing journal entries examplesrules of journalisinginventory bomincome tax slab for fy 2013-14pro forma journal entriestally manualtcs tax meaningdaybook in excelincome tax slab rate ay 2013 14journal entries in tallyjournal and ledger entries examplesbank reconciliation statement meaning in tamilirredeemable debenturertgs in axis bankwhat is the meaning of debit in accountingcredit note issued by supplierdifference between amortisation and depreciationjournal entry for debtorsjournal and ledger entries examplesvoucher chequeproforma invoice format in indiadiscount received journal entrytax slab for fy 2014 15tds reconciliation formatfix assetbank reconciliation statement youtubecompound journal entry definitioncontra account journal entrytds rates and limitscarriage inwards definition2013-14 income tax slabtally 5.4 downloadrtgs charges in icici bankincome tax slab for assessment year 2013-14accrued interest journal entryaccounting journal entries examples pdfledger meaning in marathisbi od accountaccrued income exampleincome tax slab fy 2013-14balance confirmation mailwhat is unearned incomesundry debtors in accountingbrs solutionsrtgs charges iciciwhat is trial balance why is it preparedincome tax adjusting entryaxis bank credit card payment by chequebrs formattally erp pricetds exemption listcontra voucher examplescash suspense account definitionaccrued interest accounting entrydebit note and credit note journal entryterminologies in accountingexample of ledger entryjournal ledger trial balance balance sheet examplesexamples of accounting journal entriesledger folio numbertax slab for 2013-14what are redeemable debenturestds deduction on salarytds payment detailswhat is debtors journal