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 ...

Nonprofit organizations often receive funding from individual donors and other outside support. The need for clarity and disclosure becomes evident when soliciting contributions. However, whether the ...

A general ledger (GL) is a set of numbered accounts a business uses to keep track of its financial transactions and to prepare financial reports. Each account is a unique record summarizing a specific ...

A ledger that keeps a record of the customers that a business has extended credit to and how much they owe. It also includes a compilation of their payment history and credit transactions. The ...

An accounting ledger of a business that shows its expenses, transaction history, and amounts owed to each supplier. The ledger extends credit from a supplier and gives the business time to pay for the ...