General Accounting Services ....

General Ledger

General Ledgers also know as nominal ledger is the most basic and main accounting record of any business. The accounts book contains accounts for items including current assets, fixed assets, liabilities, revenue and expense items, gains and losses etc.It is a summary of all of the transactions that take in the company. It is made by posting transactions recorded in the general journal.

Accordingly, a General Ledgers comprises of transactions of wide categories that constitute various groupings of account books maintained in a business concern. A General Ledgers provides a solid and essential base for the entire book-keeping system and facilitates preparation of all important and not so important financial statements, including income statement and balance sheet. In fact, it renders trial balance directly and ensures total debit and credit amounts are equal.

It acts as a base for making important financial statements including income statement and balance sheet. It also helps to make aTrial balance , which further ensures that total debit and credit amounts are equal.

A general ledger can be divided into certain categories in which all accounts are grouped

• Asset
• Liability
• Owner's equity
• Revenue
• Expenses
• Gains
• Losses

A general ledger is further divided into sub-categories including

• Cash
• Accounts receivable
• Accounts payable

Outsourcing General Ledger

Time is one of the major reasons for firms to outsource their General Ledgers to us. While outsourcing General Ledgers a firm can concentrate more on their core business activities. At AO2I, we have professionals who can deliver quality accounting services with short deadlines. With professional accounts and world class infrastructure, we deliver the best accounting services from India.

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The Outsourcing

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