General ledger entries are to be made from various accounting records. Some of the accounting records are cashbook, journal day book, receipt cash book and bank control account.
Cashbook will contain the payment transactions and adjustment transactions from the payment. All the payment transactions will be posted into the general ledger. General ledger entries from cash book will be head of account wise. Head of account wise expenditure entries needs to be posted into the general ledger from cash book.
Journal day book entries are to be posted into the general ledger both debit and credit. Journal day book entries mostly relates to adjustment transactions. Apart from adjustment transactions any wrong entries in the general ledger will be rectified through journal voucher entries or journal day book.
Receipt cash book will contain entries of revenue or receipt to the company or organization. All receipt entries have to be posted into general ledger head of account wise in the credit column.
Bank control account entries if any direct debit or credit by the bank and brought into bank control account after bank reconciliation are to be entered into the general ledger. Bank control account entries that are to be posted into the general ledger mostly consists of direct payment and direct credit by the bank.
After making entries into the general ledger from these accounting sources the general ledger needs to be closed every month. At the end of the month each head of account needs to be closed by arriving the debit balance or credit balance as the case may be.
Cashbook will contain the payment transactions and adjustment transactions from the payment. All the payment transactions will be posted into the general ledger. General ledger entries from cash book will be head of account wise. Head of account wise expenditure entries needs to be posted into the general ledger from cash book.
Journal day book entries are to be posted into the general ledger both debit and credit. Journal day book entries mostly relates to adjustment transactions. Apart from adjustment transactions any wrong entries in the general ledger will be rectified through journal voucher entries or journal day book.
Receipt cash book will contain entries of revenue or receipt to the company or organization. All receipt entries have to be posted into general ledger head of account wise in the credit column.
Bank control account entries if any direct debit or credit by the bank and brought into bank control account after bank reconciliation are to be entered into the general ledger. Bank control account entries that are to be posted into the general ledger mostly consists of direct payment and direct credit by the bank.
After making entries into the general ledger from these accounting sources the general ledger needs to be closed every month. At the end of the month each head of account needs to be closed by arriving the debit balance or credit balance as the case may be.
