An important part of the monthly closing cycle for your small business's general ledger is reviewing the trial balance and posting adjusting entries to recognize accruals, prepaid expenses and correct ...

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 ...

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 ...