A general ledger represents the formal ledger for a company's financial statements with debit and credit account records validated by a trial balance. The ledger provides a complete record of financial transactions over the life of the company. The ledger holds account information that is needed to prepare financial statements and includes accounts for assets, liabilities, owners' equity, revenues and expenses. In simple terms, General Ledger is a detailed report for all transactions posted to each account and for every transaction there is a Credit and Debit account so it lists them all up.
Viewing General Ledger:
The report is based on Ledger Entries that are made whenever transactions are submitted. In order to view this report, click on the 'General Ledger' option provided in the sidebar. This report can be filtered by Party, Account, Type of Transaction (Invoice, Payment) and a Date Range.