general ledger


the section of the ledger containing the accounts that are not in the cash book, the creditors ledger and the debtors ledger. Also called ‘impersonal ledger’, ‘nominal ledger’. If the accounting entity is a sole proprietorship or a partnership firm, the general ledger may be called the ‘private ledger’ because it contains accounts of transactions with a proprietor or partners, which may be kept confidential. Alternatively, the proprietorship accounts may be referred to as the ‘private ledger’ and the term ‘general ledger’ may be used for all the other accounts apart from the cash book and creditors and debtors ledgers.


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