General Ledger
A general ledger is the record of postings across a company's accounts. It supports the trial balance and financial statements and must preserve dates, accounts, amounts and references.
A worked example
A practical example to make the concept clear.
| Step | Illustrative record and result |
|---|---|
| Starting record | Invoice INV-DEMO-01 for 100,000 IQD, excluding tax: debit receivables 100,000; credit sales 100,000. |
| Change or calculation | Payment PAY-DEMO-01: debit bank 100,000; credit receivables 100,000. Each entry balances. |
| Meaning and exception | The invoice and payment references explain the ledger lines. This simplified example omits tax and inventory-cost entries. |
Why it matters
Ask finance to trace a sample invoice and payment into the ledger and back to source documents. Datrylo's current invoice test is not a full financial-close certification.
Make it practical
Can finance move from a ledger line back to the source transaction and approval? Test the answer with the exact release and application package under consideration. Explore Datrylo applications.