Using the ledger-to-ledger transaction accounting method keeps track of your business activities. Each transaction is analyzed and recorded in the appropriate ledger. With the exception of the general ...

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 ...

Natalya Yashina is a CPA, DASM with over 12 years of experience in accounting including public accounting, financial reporting, and accounting policies. Vikki Velasquez is a researcher and writer who ...

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 ...