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General ledger reco

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Sunita

Sunita (Querist)

26 July 2014 how to do general ledger reconciliation. what is procesure.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

26 July 2014 General Ledger of which account head? There is different methods for different account heads.

Vishnu Saboo

Vishnu Saboo (Expert)

26 July 2014 General ledger reconciliations usually start with individual financial accounts. Most companies use financial accounts to record specific financial transactions. Asset, liability, owner’s equity income and expense are the most common types of financial accounts in the general ledger. Rather than tackling the entire general ledger at one time, business owners often reconcile individual accounts first. Balance sheet accounts, such as asset and liability, are primary general ledger reconciliation accounts.

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