Accounting Ledger Views

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As you can see from the example, debits go on the left and credits go on the right. At the bottom of the accounting ledger there is usually a number that sums up the account balance. This makes it easy for someone who just wants to take a quick look and see how a certain account is doing. Of course, all this is done in software these days (unless you’re a student in which case you may still have to do this by hand for pedagogical purposes).

There are several different types of accounting ledgers, the most popular being the general ledger account, known as the GL. The GL is usually broken down into categories like cash, accounts receivable, accounts payable, revenues, expenses, etc. These individual categories are often broken down into smaller ledgers, known as subsidiary ledgers.

Subsidiary ledgers are a break-down of the larger ledger. An example will perhaps make this clearer. Let’s take the accounts receivable general ledger as an example. It has the current total of all accounts receivable for the company. However an organization may want more information about what this accounting ledger is made up of so it makes a different ledger for each of its customers.

Summary: Accounting ledgers are simply T-accounts that make it easy to track information and see account balances. The general ledger accounts are the most popular type of account ledger. Subsidiary ledgers can provide an organization better, more detailed information than a general ledger account which will allow the company to make better decisions.

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