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What is the general ledger?
What is the general ledger?

Describes the purpose of the general ledger.

Updated over a week ago

The general ledger is a complete record of all financial transactions at your organization. It is a recordkeeping system used to sort, store and summarize financial transactions. The ledger has 4 primary components: a journal entry, a description, debit and credit columns and balance. The ultimate goal of the ledger is to create financial reports which provide an accurate and clear picture on the financial health of the organization.

Fortunately, One Church handles a lot of the complexities of maintaining the general ledger and keeping it balanced under the hood.

Adding entries into the general ledger can be done in multiple ways:

  • The register entry screen is used to enter payments and deposits for cash accounts (asset) and credit card accounts (liability). This is likely where you will spend the bulk of your time when working with the general ledger.

  • Use the Payables screen to add money that your organization owes others, but have not paid yet.

  • Use the Receivables screen to add money that others owe your organization, but have not received yet.

  • Through adding journal entries directly.

Getting started setting up your general ledger however, begins with creating your chart of accounts. See this article for more information on how to do that.

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