The general ledger is also known as the main or nominal ledger, because it holds both sides of double-entry transactions. In contrast, the purchase and sales ledgers are called subsidiary ledgers ...

Accounting and bookkeeping are complex practices that require the ability to keep track of countless transactions. There’s always money coming in and going out of a business. To ensure it’s all ...

What Are the Causes for Bank Reconciliations & a General Ledger Not Balancing?. To help reduce financial errors and prevent fraud, many businesses perform a monthly bank reconciliation, comparing ...

Maintaining a general ledger helps you gauge a business's financial health and avoid accounting mistakes. Learn what a ...