General Ledger entries not getting to accounts

Mike or Penny Novack stepbystepfarm at mtdata.com
Fri Sep 3 16:01:30 EDT 2010


>
>Some of us (like myself) discourage use of the General Ledger for
>general transaction entry.  Personally I always enter transactions from
>the relevant Asset (and liability) accounts.
>  
>
Using  "autoposting" accounting software like GnuCash your ordinary 
transactions should be posted in a ledger accounts (where you then fill 
in the other accounts affected) and it gets automaticly (also) put in 
the journal (general ledger). Sort of the reverse of manual pen and ink 
on paper bookkeeping where you first enter into the journal and then 
have to "post" the entries into the ledger accounts.

You wouldn't normally enter anything via the journal (general ledger) 
itself with the possible exception of certain adjusting entries (I'm not 
going to explain what these might be).

Michael


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