Digits announces Autonomous General Ledger
Accounting Today
MARCH 11, 2025
Accounting automation solutions provider Digits released its Autonomous Digital Ledger solution, intended to directly challenge competitors such as QuickBooks.
How to reconcile the general ledger
Accounting Tools
JUNE 16, 2023
Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook The general ledger is the master set of accounts that aggregates all transactions recorded for a business. Ensure that all journal entries that should have reversed within the period have been reversed. Ending balance review.
Join 52,000+
professionals
Sign Up for our Newsletter
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Webinars
Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape
Outsourcing Vs. In-House: The Ultimate Battle For Better Collections
Maximizing Profit and Productivity: The New Era of AI-Powered Accounting
The Silent Crisis: Why Finance Lags in Digital Transformation and How to Accelerate AI Adoption
The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience
Trending Sources
The difference between the general ledger and trial balance
Accounting Tools
FEBRUARY 26, 2024
What is a General Ledger? A general ledger is the master set of accounts that summarize all transactions occurring within an entity. The general ledger is comprised of all the individual accounts needed to record the assets , liabilities , equity , revenue , expense , gain , and loss transactions of a business.
Webinars
Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape
Outsourcing Vs. In-House: The Ultimate Battle For Better Collections
Maximizing Profit and Productivity: The New Era of AI-Powered Accounting
The Silent Crisis: Why Finance Lags in Digital Transformation and How to Accelerate AI Adoption
The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience
The difference between the general ledger and general journal
Accounting Tools
MARCH 26, 2023
Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook The general ledger and general journal are both components of a double-entry accounting system. Level of Detail Stored The general ledger contains a summary at the account level of every transaction that a business has engaged in.
Why Did Bench Accounting Shut Down and What Should You Do Now?
Bookkeeping Express
DECEMBER 30, 2024
In a shocking turn of events, Bench Accounting, once a prominent player in the bookkeeping space, has ceased operations, leaving many small business clients scrambling to figure out what to do next. Transfer of Data : Let the Bookkeeping Partner help figure out the transfer of data and how it will work.
Why General Ledgers Matter to Businesses
Remote Quality Bookkeeping
JULY 28, 2023
That’s where a general ledger comes in. What is a General Ledger? A general ledger records every financial transaction conducted by your business. Typically, a general ledger is broken down into several accounts that are organized by transaction type.
General Ledger (GL): Definition, Significance, Implementation
Nanonets
FEBRUARY 28, 2024
Welcome to our latest blog post, where we embark on a deep dive into the intricacies of the General Ledger (GL) — the bedrock of any business's financial system. We will start with the basics: What exactly is a General Ledger, and why is it paramount to your business's financial health?
General ledger definition
Accounting Tools
SEPTEMBER 10, 2023
Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is a General Ledger? A general ledger is the master set of accounts that summarize all transactions occurring within an entity. There may be a subsidiary set of ledgers that summarize into the general ledger.
Product wrap from Xerocon Sydney 2022
Xero
SEPTEMBER 7, 2022
None more so than you all — our valued accounting and bookkeeping partners — who have helped your clients navigate a digital acceleration and shift their business models to survive (and thrive). . upgraded versions of more reports, including Bank Reconciliation, General Ledger, and Journal reports.
XERO 
264
264 
General ledger overview
Accounting Tools
JULY 16, 2023
Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is the General Ledger? A general ledger is the master set of accounts that summarize all transactions occurring within an entity.
4 Ways Bookkeepers Can Increase Profit Margins From E-commerce Clients
The Successful Bookkeeper
APRIL 20, 2023
Bookkeepers are the backbone to e-commerce businesses, keeping track of financial information and maintaining compliance. As a bookkeeper, you’re probably aware of the complex needs of e-commerce brands, and how this can be a unique opportunity to offer solutions catered to identified areas of need.
Bookkeeping 119
119 General ledger clerk | General ledger accountant job description
Accounting Tools
OCTOBER 5, 2023
Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook The general ledger clerk position is accountable for creating journal entries and assembling supporting documentation, as well as for tracking the contents of accounts , creating portions of the financial statements , and writing related disclosures.
General ledger template
Accounting Tools
MARCH 27, 2023
Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook A general ledger is a file comprised of the accounts used to record the business transactions of an organization. The general ledger has a specifically-defined template, which is used to organize the myriad of transactions that may be stored in the file.
How to post to the general ledger
Accounting Tools
AUGUST 18, 2024
Posting in accounting is when the balances in subledgers and the general journal are shifted into the general ledger. Posting only transfers the total balance in a subledger into the general ledger, not the individual transactions in the subledger. What is the General Ledger?
The difference between accounting and bookkeeping
Accounting Tools
JULY 21, 2023
Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is Accounting? What is Bookkeeping? Bookkeeping involves the recordation of basic business transactions in a recordkeeping system. First, the accountant has more responsibility than the bookkeeper.
Bookkeeping 75
75 What is a general ledger account?
Accounting Tools
OCTOBER 22, 2023
Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook A general ledger account is a record in which is recorded a specific type of transaction. A separate general ledger account is set aside for each specific type of transaction.
Best Jobs for Seniors: Part Time Jobs in Tax Preparation and Bookkeeping
Intuit
AUGUST 30, 2023
Its tax preparation and bookkeeping jobs provide many benefits. In addition to hourly wages and bonus opportunities, Intuit offers flexible work-from-home schedules, training and educational content to improve your skills, and an enthusiastic community of tax and bookkeeping experts.
Bookkeeping 130
130 
Steps to perfect your payroll this EOFY
Xero
MAY 17, 2022
Reconcile your accounts, comparing the Payroll Activity Summary report and the General Ledger. The easiest way to do this is to run the Payroll Activity Summary report and compare this to the General Ledger report. . You can run both reports for a custom date range to help identify any discrepancies.
Payroll 246
246 
App partner of the month: EzzyBills
Xero
JUNE 15, 2022
EzzyBills connects to Xero to automate time-consuming tasks such as data-extraction from document line-items, management expense approvals, general ledger coding, and e-invoicing. Extracting the data. The biggest benefit of EzzyBills for our users is the amount of time saved.
XERO 246
246 
Subsidiary ledger definition
Accounting Tools
JUNE 12, 2023
Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is a Subsidiary Ledger? A subsidiary ledger stores the details for a general ledger control account. Thus, there is no need for a subsidiary ledger in a small company.
What is posting in accounting?
Accounting Tools
JUNE 7, 2023
Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook Closing the Books Posting in accounting is when the balances in subledgers and the general journal are shifted into the general ledger. Instead, all information is directly stored in the accounts listed in the general ledger.
How to reconcile accounts receivable
Accounting Tools
JUNE 12, 2023
Related Courses Bookkeeping Guidebook How to Audit Receivables New Controller Guidebook The reconciliation of accounts receivable is the process of matching the detailed amounts of unpaid customer billings to the accounts receivable total stated in the general ledger. This is the most common reason for a difference.
Reconciling 75
75 
What is the Difference Between Bookkeeping and Accounting
Billah and Associates
MAY 23, 2018
Bookkeeping vs Accounting For most people bookkeeping and accounting would seem like the same thing. They aren’t to blame really, because both bookkeeping service and accounting service are actually part of the financial cycle that a company follows. The fundamental difference bookkeeping vs accounting is the nature of the work.
Bookkeeping 52
52 
The purpose of a trial balance
Accounting Tools
DECEMBER 28, 2023
A trial balance is an accounting report that states the ending balance in each general ledger account. The purpose of a trial balance is to ensure that all entries made into an organization's general ledger are properly balanced. A trial balance lists the ending balance in each general ledger account.
Transaction definition
Accounting Tools
SEPTEMBER 11, 2023
Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is a Transaction? A high-volume transaction, such as a billing to a customer, may be recorded in a specialized journal , which is then summarized and posted to the general ledger.
T account definition
Accounting Tools
JUNE 25, 2024
A T account is a graphic representation of a general ledger account. Related AccountingTools Courses Bookkeeper Education Bundle Bookkeeping Guidebook Example of a T Account In the following example of how T accounts are used, a company receives a $10,000 invoice from its landlord for the July rent. What is a T Account?
Journalizing definition
Accounting Tools
JULY 25, 2023
Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is Journalizing? This activity only applies to the double-entry bookkeeping system. Journalizing can result in entries to the general ledger or to subsidiary ledgers. The steps involved in journalizing are noted below.
What is accountancy?
Accounting Tools
DECEMBER 19, 2023
The fixed asset accountant , general ledger clerk , and tax accountant are most likely to be involved in the use of journal entries. There may be a number of closing entries at the end of each reporting period that the general ledger clerk is tasked with entering into the accounting system.
8 Unique Ways to Use AI for Accounting Firms
Jetpack Workflow
DECEMBER 4, 2024
And that’s a whole different avenue where AI and generative AI can help firms continue to be really productive and create new value for their clients.” Put it into practice: Adopt AI-powered accounting or bookkeeping software that empowers non-tax and accounting employees to produce “ready-to-review” work for CPAs and senior accountants.
Sales returns and allowances definition
Accounting Tools
APRIL 28, 2024
Accounting for Sales Returns and Allowances This line item is the aggregation of two general ledger accounts , which are the sales returns account and the sales allowances account. The two accounts may sometimes be combined into a single account in the general ledger.
Ledger account definition
Accounting Tools
MAY 19, 2023
Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is a Ledger Account? A ledger account contains a record of business transactions. It is a separate record within the general ledger that is assigned to a specific asset, liability, equity item, revenue type, or expense type.
The difference between a journal and a ledger
Accounting Tools
JANUARY 18, 2024
Related AccountingTools Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook In a computerized accounting system, the concepts of journals and ledgers may not even be used. Thus, the concepts are somewhat muddied in a computerized environment, but still hold true in a manual bookkeeping environment.
Unadjusted trial balance definition
Accounting Tools
JULY 13, 2023
Related Courses Bookkeeping Guidebook Closing the Books The Year-End Close What is an Unadjusted Trial Balance? The unadjusted trial balance is the listing of general ledger account balances at the end of a reporting period, before any adjusting entries are made to the balances to create financial statements.
Financial accounting basics
Accounting Tools
JULY 24, 2023
Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What are the Basics of Financial Accounting? The General Ledger The accounts are stored in the general ledger. The Financial Statements The general ledger is also the source document for the financial statements.
Debit and credit rules
Accounting Tools
MARCH 23, 2023
Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What are the Debit and Credit Rules? They are used to change the ending balances in the general ledger accounts when accrual basis accounting is used. Debits and credits are the opposing sides of an accounting journal entry.
Journal entry definition
Accounting Tools
MAY 21, 2023
Related Courses Accountants’ Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook What is a Journal Entry? A journal entry is usually recorded in the general ledger ; alternatively, it may be recorded in a subsidiary ledger that is then summarized and rolled forward into the general ledger.
Account definition
Accounting Tools
JUNE 7, 2023
Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is an Account? These records are stored in the general ledger. An account can have several meanings in the accounting profession. They are noted below. A business may have hundreds or even thousands of accounts set up in its accounting system.
A Clean and Simple Bookkeeping Client Folder Template
Jetpack Workflow
MAY 19, 2023
It makes your work as a bookkeeper easier , more accurate, and more efficient, leading to greater satisfaction for you and your clients. This guide provides you with a straightforward client folder template that many bookkeepers use to operate more accurately and efficiently.
Bookkeeping 52
52 
Adjusted trial balance example and explanation
Accounting Tools
JUNE 16, 2023
Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is an Adjusted Trial Balance? An adjusted trial balance is a listing of the ending balances in all accounts after adjusting entries have been prepared.
Purchase ledger definition
Accounting Tools
OCTOBER 23, 2023
Related Courses Bookkeeping Guidebook Purchasing Guidebook What is a Purchase Ledger? The purchase ledger is a subledger in which purchases are recorded. The purchase ledger is part of the accounting department's database; it is not maintained by the purchasing department.
Post-closing trial balance definition
Accounting Tools
JUNE 19, 2023
Related Courses Bookkeeping Guidebook Closing the Books The Year-End Close What is a Post-Closing Trial Balance? Accounting software requires that all journal entries balance before it allows them to be posted to the general ledger , so it is essentially impossible to have an unbalanced trial balance.
What Is Double-Entry Bookkeeping? A Simple Guide for Small Businesses
Less Accounting
OCTOBER 13, 2022
As a small business owner, there are many things you need to be aware of, and one of them is double-entry bookkeeping. What Is a Double Entry Bookkeeping System? Who Should Use Double Entry Bookkeeping and Why? You’ll often stumble upon the term “double entry accounting system,” and it is the same thing.
Bookkeeping 52
52 
Accounting journal entries
Accounting Tools
OCTOBER 20, 2023
Related Courses Accountants' Guidebook Bookkeeping Guidebook What are Accounting Journal Entries? The accounting records are aggregated into the general ledger , or the journal entries may be recorded in a variety of sub-ledgers , which are later rolled up into the general ledger.
Account balance definition
Accounting Tools
OCTOBER 28, 2023
Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is an Account Balance? General Ledger Account In accounting, the account balance is the current residual balance in an account. An account balance is the current total in an account. The concept can be applied to the situations noted below.
Let's personalize your content