u nderstanding g eneral l edger course 2011011. trading statement profit and loss statement reset -...
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UNDERSTANDINGGENERAL LEDGER
Course 2011011
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• Trading Statement• Profit and Loss Statement
Reset - Sections
• AppropriationsAppropriation
• Assets• Liabilities• Equity
Retained -Balance Sheet
General Ledger Structure
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Income
Less Cost of Goods
Trading Statement
All Income
Less Expenses
Profit and Loss Statement
Net Profit
Each Trading Section Contains
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Current
Fixed
Assets
Current
Long Term
Liabilities
Balance Sheet Contains
Investments
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UNDERSTANDINGGENERAL LEDGER
SETS
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These are used to get information from your sub ledgers to your General Ledger
Debtors
Fixed Assets
Creditors
Stock
Purchasing
Cash Register
General Ledger
Bank Reconciliation
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Posting should be done daily
One module at a time
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How does the system know what codes to use?
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Main Accounts
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Fixed Assets