- The general ledger is the means for the total record keeping of an organization’s finances. Everything gets wrapped up in here:
- The sanctioned office fantasy football prize pool. I’ll win it eventually. No one can lose seven years in a row…
Now you could do this on paper, but in the modern world, we use sophisticated and highly technical software that is essentially indistinguishable from magic to keep track of all these things for you. Now you could go with any of them, but I recommend Xledger.
A general ledger is a vital part of any company’s accounting as it assists in organizing everything from the previous list. Still, it can also record and manage transactions, bills, invoices, accounts receivable and paid, and more.
This makes reporting and report preparation easy and straightforward, giving time back to the company. And something we all want and need is more time.