Become an Accountant : Posting to the General Ledger

In this clip, we’re going to talk about what
it means to post to the general ledger and the difference between sub-ledgers and the
general ledger. The general ledger is simply a listing of all the accounts that make up
your financial statements. And the general ledger is made up of journal entries — debits
and credits. A sub-ledger is a separate ledger that flows into the general ledger that records
detailed information on certain items. Three examples of sub-ledgers are your AR sub-ledger
where you would record invoices and cash receipts from customers, your accounts payable sub-ledger,
where you would record invoices and cash payments to your vendors, and your cash sub-ledger,
where you would have information on deposits and checks. All of these sub-ledgers flow
into the general ledger. So if you wanted to post to the general ledger, there are two
different ways you could do it. You can post items to your sub-ledger and then take the
total and post it to your general ledger, or you can simply skip the sub-ledger altogether,
and post items directly to the general ledger.

6 thoughts on “Become an Accountant : Posting to the General Ledger”

  1. Thank you for all the info, but I must tell the lady in this video that in 1987 there was a product released in the market called "Powerpoint". She should really look into it. The realm of business presentations hasn't been the same since then. Does that computer she has in the background not work? Does she still use rotary phones? Does she still pay with checks at the supermarket, and why is it that only women do that?

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