General Ledger Purchase Example. 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 ...

General Ledger transactions are posted to an Accounting Key. This accounting key consists of the Account String and the Object Code. Each of its six segments capture a different element (who, what, ...

How to Close a General Ledger. A general ledger is a record of all of a company's accounts and their associated transactions and balances. Revenue, expense and dividend accounts are temporary ...

A debit ticket is an accounting entry that indicates a sum of money that the business owes. It reduces the balance of the general ledger.