General Ledger Purchase Example. The general ledger is also known as the main or nominal ledger, because it holds both sides of double-entry transactions. In contrast, ...

Keeping a general ledger is foundational to your business’s financial success. It tells you how much money you have at any given moment, where your cash is flowing and what your key expenses are.

How a General Ledger Functions With Double-Entry Accounting . A general ledger is used by businesses that employ the double-entry bookkeeping method, which means that each financial transaction ...

Example of a Nonprofit's General Ledger. Nonprofit organizations often receive funding from individual donors and other outside support. The need for clarity and disclosure becomes evident when ...