From these daybooks we create the ledger accounts.

The general ledger account may be viewed by major class, sub-class or detail expenditure code.

The board must also formulate procedures to ensure that all general ledger accounts are accurate.

Each nominal ledger account is unique to allow its ledger to be located.

The trial balance is a list of the active general ledger accounts with debit and credit balances.

Another column will contain the name of the nominal ledger account describing what each value is for.

Each transaction will be recorded in at least two ledger accounts.

The folio number is used as a cross reference between the journal and the ledger accounts.

Each ledger account has a folio number column.

Ledger - Any amount which is transferred to a ledger account.