The General Ledger
The Final Book of Entry

The figure above shows three separate columns of simulated books. To the left is a single book called the General Ledger. No matter how large or small a business is, it needs only one General Ledger. Since it contains the totals from all the accounts in the Journals, the General Ledger is the final book of entry. It is the book from which financial statements and earnings (Profit and Loss) statements are created. It also defines the owner or stockholder's equity (ownership) in the business.

Accounting Made Easy, Module I of the Professional Bookkeeper Program, explains the General Ledger in detail.

Click HERE to see what else is taught in Module I.