What is the difference between General Ledger and Trial
Answers were Sorted based on User's Feedback
Answer / lxmi1972
General Ledger is the one recording of transactions in a
particular account head to show the actual movement of the
transactions and its effets.
On the other hand, Trial Balance is the consolidation of GL
Account figures which will show the total debit and total
credits of each accounts which are configured in GL .
At any situation, in Trial Balance, Debit and Credit total
|Is This Answer Correct ?||14 Yes||2 No|
Answer / h.r. sreepada bhagi
General Ledger consists of Individual Ledger A/cs of Parties
(Debtors, Creditors, etc), Incomes, Expenses, Other Assets,
Liabilities, Capital & Reserves' A/cs. A Ledger is a book of
secondary entries & transactions are posted to relevant
Ledger A/cs from the book of Primary Entries (i.e. Purchase
Book, Sales Book, Bank Book, Cash Book, General Journal,
CN/DN Register, etc.)
Each ledger a/c will have all transactions (Debit & Credit)
relating to that account.
On the other hand Trial Balance is an abstract of balances
of all the ledger accounts & bank/cash books as on any
particular date. Trial Balance is prepared to ensure the
correctness of the balances of all the accounts.
In case of Accounting is Computer Software Packages,
transactions are getting recorded simultaneously in the
books of primary entry as well as books of secondary entry.
|Is This Answer Correct ?||4 Yes||2 No|
what is indian currary (but not rupee) like bound etc...
What is journal entry for sales return
in Tally accounting programme where should I can make ledger for Work in Progress? under which accounting head? Eg. Debit will be under Current Asset a/c and what about credit? whether it is under Purchase a/c? or under Income a/c?
What is BRS Adjustment entry?
Rs. 30,000 salary due to manager, but not paid. what will be the journal entry for this transaction?
HOW TO FILL PURCHASE RETURNS IN VAT 200,IF NOT PURCHASES THE PERIOD?
how to assign the cost center to GL Account in SAP (FICO)
What is short term > debtors & Creditors ?? What is Long term > debtors & Creditors ??
what is withholding tax
what is the nature of expenses of a donation
What is Share Premium?
ram paid to cheque rs 25000/- for comission what is the entry in tally can in this entry tds will deduct then what is the entry in tally and which voucher