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 ...

A small business must record all transactions related to customer sales and payments on the company's general ledger and accounts receivable ledger. Journal entries are used to record these ...

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 ...