C8- GENERAL LEDGER MODULE
The general ledger contains all accounts for recording
transactions relating to a company’s assets, liabilities, owners’ equity,
revenue and expenses. In terms of accounting software, the general ledger is a
‘central repository’ for accounting data from other modules such as customer,
supplier, fixed assets etc.
The general ledger is
where posting to the accounts occurs. Posting is recording amounts as credits
(right side) and amounts as debits (left side), in the pages of the general
ledger. There is a transaction, Other
GL Journal, covered later, which
requires you to balance the debit and credit
sides.
General Ledger Main Menu
screen.
