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General Accounting Discussions: GL & SL

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  1.  
    • CommentAuthorrao_uk
    • CommentTimeMay 29th 2008
     
    DIFFERENCE BETWEEN GENERAL LEDGE AND SUBLEDGER
    • CommentAuthorlorelee
    • CommentTimeMay 30th 2008
     
    Sub Ledgers represent the detail to the General Ledger.
    EX : General Ledger AP Liability, the Sub Ledger would be the individual accounts.
    • CommentAuthorRDS
    • CommentTimeMay 31st 2008 edited
     
    General Ledger is a summary of an account. Example are as follows:
    1. Cash and Cash Equivalents
    2. Accounts Receivable
    3. Property, Plant and Equipment (PPE)
    4. Etc.

    On the other hand, subsidiary ledger contains the details of an account. Example are as follows:
    1. Subsidiary Ledger of Cash and Cash Equivalents
    A. Petty Cash Fund
    B. Cash on Hand
    C. Cash in Bank - Name of Bank 1
    D. Cash in Bank - Name of Bank 2
    E. Etc.

    2. Subsidiary Ledger of Accounts Receivable
    A. Customer 1
    B. Customer 2
    C. Customer 3
    D. Etc.

    3. Subsidiary Ledger of PPE
    A. Office Equipment
    B. Transportation Equipment
    C. Factory Equipment

    Subsidiary Ledger may vary depending on the need of the Company. Subsidiary Ledger could be simply define as the details of the general ledger.

    RDS
    Thankful People: maira gil

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