General Ledger produces the company’s financial statements, which shows the company’s assets, liabilities and equity at a point in time, the Income Statement, which shows the company’s income, expenses and net profit over a period of time, the Cash Flow Statement which shows sources and applications of cash, and associated financial reports such as the Trial Balance. The rest of the reports are there to track the numbers on the financial statements back to individual transactions.
General Ledger is unusual in that it receives transactions from many other modules. There are two ways to accomplish this: Detail and Summarized.
A descriptive term for certain executives in a business operation