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 ...

What Are the Causes for Bank Reconciliations & a General Ledger Not Balancing?. To help reduce financial errors and prevent fraud, many businesses perform a monthly bank reconciliation, comparing ...

The evolution of ledger systems can be traced back to the early days of human civilisation, where simple record-keeping forms were used to track transactions and assets. Over time, the development of ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Dr. JeFreda R. Brown is a financial ...

Accounting and bookkeeping are complex practices that require the ability to keep track of countless transactions. There’s always money coming in and going out of a business. To ensure it’s all ...

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 ...