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 ...

A general ledger contains all balance sheet and income statement accounts. A general ledger controlling account represents a summary of transactions recorded in a subsidiary ledger. In turn, a ...

If you are self-employed or the owner of a small business, you might be tempted to postpone certain bookkeeping chores, such as reconciling your subsidiary ledgers to your general ledger. However, ...