What is General Ledger and Trial Balance?

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10. Dec 2022
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What is General Ledger and Trial Balance?

Ledger - Ledger is the main book in which the account of money transactions is kept. Now a days it is also in the form of computer files. All the transactions in Ledger are written according to the account which has two separate columns of Debit and Credit.

 According to Bottleboy, the ledger is the main book of accounts and in this book all the business transactions are finally divided and placed in their respective accounts.

 

 All personal, real and unreal accounts are kept in the ledger. Generally, ledger is in the form of register. The page number is marked on each of its pages. In this way, after making entries of transactions in the journal and subsidiary books, they are classified. This classification takes place in the ledger.

 

 Trial Balance

 

 When there is a transaction in a company, then all those transactions are written in the journal and then all balance transactions from the journal are written in the ledger. After writing, it becomes necessary to know whether the writing done in the ledger is correct or not. For the purpose of checking this, a list is made which is called Trial balance.

 Trial means investigation and Balance means balance. The account which is prepared to check whether the balance in the ledger is correct or not is called Trial Balance.

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