Ledgers
One of the main ledgers is the gerneral ledger. This ledger is where all companies keep track of every transaction made. The general ledger is the main ledger used in accounting. A general ledger is a complete record of financial transactions over the life of a company. The purpose of this ledger is to see thie total amount and all of the transactions made over the life of the company.
Other then the generale ledger there is always a accounts payable and a accounts receivable ledgers in any companies accouting records. Accounts payable is an accounting ledger that shows the transaction history and amounts owed separately for each supplier from whom the business receives credit for purchases. Accounts receivable is when you record all credit sales made by a business. A typical transaction entered into the accounts receivable ledger will record an account receivable, followed at a later date by a payment transaction from a customer that eliminates the account receivable. All these aacounts will be posted into there own ledger, seperate from every other transaction.
Posting, if you dont know already, is a very simple process. It is litteraly just writing down thie amount of the transaction to their specific ledger. But until you can post you must have to figure out the righht of the transaction.
Other then the generale ledger there is always a accounts payable and a accounts receivable ledgers in any companies accouting records. Accounts payable is an accounting ledger that shows the transaction history and amounts owed separately for each supplier from whom the business receives credit for purchases. Accounts receivable is when you record all credit sales made by a business. A typical transaction entered into the accounts receivable ledger will record an account receivable, followed at a later date by a payment transaction from a customer that eliminates the account receivable. All these aacounts will be posted into there own ledger, seperate from every other transaction.
Posting, if you dont know already, is a very simple process. It is litteraly just writing down thie amount of the transaction to their specific ledger. But until you can post you must have to figure out the righht of the transaction.