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 ...

In general, a business accounting system is designed to keep track of where money comes from and where it goes. Usually, businesses will keep both a journal and a ledger for accounting purposes. The ...

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 ...

A journal entry is used to record an accounting transaction in the general ledger. Workday Finance replaced Financial Edge as our general ledger system effective January 1, 2024. Please note that ...

The general ledger is a vast historical data archive of your company’s financial activities, including revenue, expenses, adjustments, account balances, and often much more. The detailed transactions ...