General Ledger

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  • Created by: KatyX97
  • Created on: 04-04-15 14:51

Uses of the General Ledger

  • Provides a subsidiary book for non-regular transactions
  • Eliminates need for remembering why non-regular transactions were put through the accounts
  • Reduces the risk of fraud- is difficult for unauthorised transactions to be entered into the system
  • Reduces the risk of errors- lists all the transactions to be entered into the system
  • Ensures entries can be traced back to a source document- an audit trail for non-regular transactions
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