What is a general ledger? A guide for small businesses | Run your business
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Utilizing the accounting cycle, you can pull all the data you need as a small business owner to get an accurate view of your company’s financial health. One of the most important steps in the accounting cycle is recording all your accounting data into your general ledger. In this video, Astrid Daniela Galvez (QuickBooks ProAdvisor and Tax Specialist) defines the components of a general ledger and how to use it to track all your money in, money out. She also outlines the five categories of general ledger accounts.
00:00 - Introduction
01:01 - What is the general ledger?
01:29 - Benefits of general ledger accounting
02:05 - The 5 categories of general ledger accounts
03:02 - How QuickBooks helps with financial insights
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