What is General Ledger In Accounting - Definition - Meaning - Format
How To Do Ledger Posting | How To Make Ledger From Journal King of Accounts Ledger is the third step of the Steps in the Accounting Cycl e . Ledger tells us more than Journal . The Journa l only tells you about what types of Accounts you record in it and what are changing taken place in it but does not tell you about the results of specific accounts separately. You do not know how much we have balances for our Assets , Liabilities and Owner’s Equity . What are the total Expenses incurred in the business and the Revenues generated by those expenses? This problem is solved by the ledger called main books of accounts, because all the Transactions recorded in the journal are finally posted to ledger according to its classification. With the help of ledger you know how many cash the business has for running and operating the business. Firstly, You must know about what is Ledger a nd its Meaning in order to better understand this step of accounting cycle. It...