General Ledger

General ledger: The primary accounting record of a company that uses double-entry bookkeeping. It divides the company’s accounts into three account types: assets, liabilities and equity accounts. In modern accounting, general ledgers are computerised.

All of these ledgers are managed in the Chart of Accounts or the Accounts List. These are some of the things you’ll learn about in online courses that help you learn about the General Ledger:

  • Distinguish between the different journals.
  • Define general journals and their purpose.
  • Identify key components of a general journal entry.
  • Understand what the chart of accounts is
  • Understand the main categories included in the Chart of Accounts.
  • General ledgers with a debit balance
  • General ledgers with a credit balance.
  • Understand journal entries.

These online training courses on QuickBooks Online, Xero Accounting & MYOB AccountRight and MYOB Essentials include training on the General Ledger

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