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, the purchase and sales ...

A general ledger provides a complete record of financial transactions for a business. Learn how it works, why it is important, and its examples in this guide.

Businesses that employ double-entry bookkeeping use a general ledger to compile their financial information. Investors can review them as well as the supporting documents.

Rent, utilities, and administrative fees, are additional examples of what a nonprofit might include in the general ledger as separate subsidiary expense accounts.

A cash disbursement journal is a record of recent company cash expenditures that must be copied over to the general ledger periodically.