UNDERSTANDINGGENERAL LEDGER

Course 2011011

• Trading Statement• Profit and Loss Statement

Reset - Sections

• AppropriationsAppropriation

• Assets• Liabilities• Equity

Retained -Balance Sheet

General Ledger Structure

Income

Less Cost of Goods

Trading Statement

All Income

Less Expenses

Profit and Loss Statement

Net Profit

Each Trading Section Contains

Current

Fixed

Assets

Current

Long Term

Liabilities

Balance Sheet Contains

Investments

UNDERSTANDINGGENERAL LEDGER

SETS

These are used to get information from your sub ledgers to your General Ledger

Debtors

Fixed Assets

Creditors

Stock

Purchasing

Cash Register

General Ledger

Bank Reconciliation

Posting should be done daily

One module at a time

How does the system know what codes to use?

Main Accounts

Fixed Assets