[GNC] General Ledger

[Michael or Penny Novack]

On 3/18/2020 1:59 AM, Adrian Yong wrote:
> Thank you very much for your assistance.
>
> I submit the following to the auditors:
>
> 1) P&L
> 2) Balance Sheet
> 3) Journal
> 4) General Ledger
> 5) Funds(Cash) Flow Statement
> 6) Trial Balance
>
> That's because they don't use QuickBooks...
>
> Regards,
> Adrian
>
All of these are standard reports, just as they were in the old pen and 
ink on paper days.

Is your question how to produce each of these when using gnucash? Keep 
in mind that in some of these cases, terminology/names may be part of 
the issue. Thus "general ledger" can refer to both the ledger* itself 
and a report of it. At least part of the problem is the names used by 
gnucash.

Michael D Novack

* The "general" in the name is because of "cash book accounting", a 
shortcut method from the old days where the :cash" account was handled 
differently from the rest << since 90+% of transactions affected cash, 
those were not journalized but entered into the special "cash" ledger 
and posted from there --- actually similar to what we do in gnucash for 
all accounts --- think "virtual journal" bookkeeping >>

In traditional pen and ink on paper all transactions initially entered 
into the "journal" and then POSTED from there to the ledger. Errors 
while posting were frequent, finding them "fun". You can think of 
gnucash as backwards auto-posting. You enter directly into the ledger 
BUT gnucash can show you the corresponding "journal" if you ask it to.