Accounting Services for Business

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General Ledger Bookkeeping

Bookkeeping Services – General Ledger

This page includes information about bookkeeping services related to general ledger. General ledger is the main book (collection of entries) which stores all data about business transactions. It is summary of accounts (such as cash, sales, purchases).

In manual bookkeeping general ledger is so called T account. Debit column on the left and credit column on the right. In such form, it collects all accounts. Usually general ledger includes beginning and ending balance. Then for each transaction: date, amount, debit and credit account, description, reference to source document and other necessary data.

The purposes of a ‘General Ledger’

Records (data) in general ledger can be used for several purposes, for example to prepare trial balance, to analyse business. To get correct results, we must record the data in general ledger and other books accurately and with responsibility. All errors must be examined and corrected immediately. It is because if not corrected immediately, first mistake may result next. And number of mistakes may grow to such amount that it will take very long time to find and correct. So it is very important to properly maintain general ledger.

getsix® Accounting Team during many years doing bookkeeping work has developed optimal method of general ledger maintenance.

General ledger maintenance services include:

  • Recording of business transactions, classifying the transactions according to legislation, accounting standards and business needs,
  • Maintenance of prepayments and accruals,
  • Entering purchase, depreciation and disposal of fixed assets,
  • Recording of payroll related transactions (including calculated and paid payroll, calculated and paid taxes),
  • Ensuring correct accurate and completed entries (reviewing accounts of general ledger with aim to find and correct possible errors),
  • Preparation of information necessary for business management,
  • Preparation of financial reports, and analysis of recorded data,
  • Reviewing and reporting of monthly income and expenses,
  • Reconciliation of accounts,
  • Closing of accounts and preparation of trial balance,
  • In case of necessity explanation of positions of accounts,
  • Ensuring keeping of all data and providing of copies in case of necessity.

Last modified: May 31, 2022