Tuesday, June 3, 2008

What is Accounting General Ledger?

The accounting general ledger is a record containing all accounts used by the company. It is the main source of a companies financial records, the general ledger may also be known as the chart of accounts.

This general ledger for bookkeepers includes all accounts that make up the accounting equation, A=L+E The accounting general ledger is a collection of all accounts in a company's information system. A company’s size, nature of business, and diversity of operations dramatically affect the number of accounts needed in the ledger.

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The information on this site is for informational purposes only and should not be used as a substitute for the professional advice of an accountant, tax advisor, attorney, or other professional.