Chapter 3
The General Ledger
IN THIS CHAPTER
Understanding the value of the General Ledger
Developing ledger entries
Posting entries to the ledger accounts
Adjusting ledger entries
Creating ledgers in computerized accounting software
As a bookkeeper, you may be dreaming of having one source that you can turn to when you need to review all entries that affect your business’s accounts. (Okay, so maybe that’s not exactly what you’re dreaming about.) The General Ledger is your dream come true. It’s where you find a summary of transactions and a record of the accounts that those transactions affect.
In this chapter, you discover the purpose of the General Ledger. It tells you not only how to develop entries for the ledger but also how to enter (or post) them. In addition, it explains how to change already-posted information or correct entries in the ledger and how this entire process is streamlined when you use a computerized accounting system.
Understanding the Eyes and Ears of a Business ...
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