General Ledger Reports

hinghamThe general ledger records dates, check numbers, payees and amounts of all expenses with each of your business accounts. Because each bookkeeping entry debits one account and credits another account in an equal amount, it helps ensure that the general ledger is always in balance. Whether you keep your records by hand or use one of an accounting system on the computer, this report acts as a base for making important financial statements including the profit and loss (income) statement and the balance sheet.