Chapter 4
Ledgers: A One-Stop Summary of Your Business Transactions
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 impact your business’s accounts. (Okay, so maybe that’s not exactly what you’re dreaming about. Just work with me here.) 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 impact.
In this chapter, you discover the purpose of the General Ledger. I tell you how to not only develop entries for the Ledger but also enter (or post) them. In addition, I explain how you can change already posted information or correct entries in the Ledger and how this entire process is streamlined when you use a computerized accounting ...
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