What is General ledger?
The general ledger is the complete record of every posting, organised by account. It is where you go to see the movement and closing balance of any single account over a period.
The general ledger is the complete record of every posting, organised by account. It is where you go to see the movement and closing balance of any single account over a period.
In Bangladesh
When an auditor or a bank asks how a figure in your accounts was arrived at, the general ledger is the answer. Books kept only as summaries cannot produce it after the fact.
An example
A bank asks why the cash figure moved by BDT 4 lakh in one month. The general ledger for the cash account answers it in one screen: every movement in date order, each drilling back to the transaction that caused it.
In SORS ERP
SORS ERP provides the general ledger, trial balance, profit and loss, balance sheet and cash flow from the same postings, with drill down from a report line to the transactions behind it.
Also called
- In Bangla
- সাধারণ খতিয়ান
- Also
- GL
Questions
Answered plainly, including where the answer is no.
How far back should the general ledger go?
VAT records must be kept for 5 years under the VAT and SD Act 2012, and there are separate income tax requirements. Keeping the ledger in software rather than in books makes the retention period a storage question rather than a shelf space one.
See SORS ERP running on your own numbers
A 30-minute demo in Bangla or English, with your products, your VAT setup and your questions.