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 ...

The general ledger is a vast historical data archive of your company’s financial activities, including revenue, expenses, adjustments, account balances, and often much more. The detailed transactions ...

An accountant uses a suspense account, a temporary account in the business chart of accounts, for recording all or part of a transaction that she doesn't know how else to code. When she identifies the ...

A journal entry is used to record an accounting transaction in the general ledger. Workday Finance replaced Financial Edge as our general ledger system effective January 1, 2024. Please note that ...