Learn about the Basics of a General Ledger

    What is a General Ledger?

      The general ledger is the basic record for accounting. It will be the core of any company’s record-keeping system. The general ledger is your go-to document where you can determine the fiscal health of the company you are performing accounting for. You will keep the general ledger , and it will serve as a record (permanently) for your company. When you need to create a balance sheet , most of the information you will need to do this will be found in the general ledger.

    What Goes Into a General Ledger?

    The general ledger tracks five categories. Read more

Bookkeeping – Credit Sales and Cash Sales

Bookkeeping - Credit Sales and Cash Sales

Bookkeeping is the process of recording the financial transactions for a business. These transactions will ultimately provide the core information to construct the profit and loss account and balance sheet for a business. As part of this bookkeeping, the bookkeeper will need to record all the revenue and expenditure for the business, whether they are in cash or on credit. Read more

General Ledger Accounting – Keeping Track of Your Business Information

General Ledger Accounting - Keeping Track of Your Business Information

If you are in business, you have data-it’s just a simple fact. It’s what you DO with that data that can greatly affect your business success. Do you throw all of your invoices and receipts into a drawer? Or worse yet, do you not even keep that information at all? Doing either of these leaves you in the dark about your business finances, which can quickly end in the demise of your business. Read more