What is the difference between ledger and general ledger

Questions by ferozbm   answers by ferozbm

Showing Answers 1 - 18 of 18 Answers

deepak patro

  • Mar 30th, 2006
 

Hello sir,

we know the ledger but what is difference between ledger and general ledger.

  Was this answer useful?  Yes

kk

  • Apr 20th, 2006
 

Ledger is a short form for the General Ledger.

However,some people prefer to call the sub-ledger as the ledger and the general ledger as 'GL'

  Was this answer useful?  Yes

anandjp23

  • Apr 27th, 2006
 

Generel Ledger means, Those ledgers are using commonly in all types of business organizations. eg: purchases, sales, printing&stationary, etc...Ledger means, which ledger is created for the business organization requirement

  Was this answer useful?  Yes

satya

  • Aug 20th, 2006
 

A Ledger contains the balances of the accounts in individual capacity whereas the General Ledger contains the consolidated balance of all these accounts.

  Was this answer useful?  Yes

cnubandi

  • Nov 4th, 2006
 

A Ledger contains the balances of the accounts in individual capacity whereas the General Ledger  is a central repositary  it contains the consolidated balance of all the accounts which come from AR,AP.....

  Was this answer useful?  Yes

jaya

  • Nov 14th, 2006
 

Good

  Was this answer useful?  Yes

Devendra Nath

  • Dec 30th, 2006
 

The General Ledger Contains all transaction records including Product Details, Rate, Qty, Cheq No Bank Name, Debit Amount, Credit and Balances where as Ledger Contains Simple transactions which is included debit, credit and Balances..... By devendra Nath

  Was this answer useful?  Yes

Rajesh Kumar

  • Jan 5th, 2007
 

A Ledger is main and principle form of account.Whereas the General Ledger has all the accounts other than debtors and creditors.It includes properties account,incomes & expences,capital and drawings.

  Was this answer useful?  Yes

Rajesh Govindarajan

  • Apr 12th, 2007
 

Ledger -Which contains all the Vendor accounts & all the Expenses accounts as well. Whereas in
General Ledger - We have only the Expenses account alone.

Rgds,
Raj.

  Was this answer useful?  Yes

subhasish ghosal

  • Jun 19th, 2007
 

GL includes all the reconciliation accounts including Customer & Vendor master account in the form of Sundry Debtors or Sundry Creditors. Whereas Ledger means any ledger account like any vendor ledger account, customer ledger account and for this reason these are called as sub ledger as well.

  Was this answer useful?  Yes

dharani

  • Jul 30th, 2007
 

a ledger represents collection of accounts.

there are 3 ledgers viz,
1.debtors/AR ledger
2.creditors/AP ledger and
3.General Ledger

thus ledger includes general ledger

  Was this answer useful?  Yes

In Ledger, we record the transactions according to the particular debtor or creditor, but in General Ledger, we record all types of transactions which required to finalization of accounting period.

  Was this answer useful?  Yes

nagaraj

  • Aug 19th, 2011
 

The question should be the difference between sub-ledger and general ledger
Sub-ledger is for individual accounts(like purchase account may have 100 different vendors)
General ledger is consolidated in to one ledger

  Was this answer useful?  Yes

Bharath Kumar Nimmalapudi

  • Aug 29th, 2011
 

All the ledger accounts together called as General ledger, and the sub ledger is a independent source of General ledger which contains business transaction in micro level( like including all check and Invoice # with costumers name and bank account details) whereas General ledger we only can see in summary wise.

  Was this answer useful?  Yes

Jabraham

  • Apr 3rd, 2012
 

As someone mentioned in the thread before the right question would be what is the difference between a Sub Ledger and General Ledger, earlier when manual books of accounts were maintained Sub Ledger was also called Subsidiary Ledger, now with ERP systems in vogue , almost all computerized accounting systems use the concept of Sub ledger and General Ledger.
To explain further Sub ledger is a subsystem or a component of the General Ledger and all postings in Sub ledger would at some point ideally flow into General Ledger , there could be exceptions and that is why SL to GL reconciliations are performed at least monthly to identify and close these reconciling items.
The most common sub ledger which exist are Accounts Payable , Accounts Receivable , Fixed Assets , Inter Company , Costing or Production Modules , Inventory etc all these feed into General Ledger via Batch Posting in Oracle or real time as in SAP. Once the posting is done the GL balance updates.
In most of the ERP systems the sub ledgers are process based, i.e. the debits and credits which the systems make would not be evident on the face of the activity, the systems generate the debits and credits in the back end and would be visible in the General Ledger Module.
The General Ledger Module is the environment from where the Trial Balance is extracted for preparation of financial statements. Each Sub ledger is independently closed for the period, which is generally every month and then after all the sub ledgers close the general ledger is closed. Also note that a journal entry can be posted only in the General Ledger environment and never in a sub ledger.

  Was this answer useful?  Yes

sanele

  • May 15th, 2014
 

Ledger fall under the general ledger

  Was this answer useful?  Yes

Madhusudhan

  • Jun 9th, 2014
 

ledger means witch contains all account closing balance. General ledger means a group of accounting like a/c payable, a/c receivables, exp & loss etc

  Was this answer useful?  Yes

nitin behl

  • Aug 29th, 2014
 

what is the difference between data ledger and general ledger?

  Was this answer useful?  Yes

Give your answer:

If you think the above answer is not correct, Please select a reason and add your answer below.

Answer Question

Click here to Login / Register your free account


 
Send   Reset

 

Related Answered Questions

 

Related Open Questions