Hi. I have created a General Ledger report from my accounting figures to date… just 9 days so far. However, I don’t understand it! I know exactly what I’ve spent out and what’s come in but the total figures at the bottom of the report don’t make sense. They total approximately twice my current net l…

The 1774.45 is for the want of a better words the total of the “ins” and “outs” from all accounts so the debit means all the expense accounts have increased by 819.52 and because this is double entry accounting there has to be 2 entries for each transaction and therefore other accounts have also cha…

General Ledger Summary report is really to prove that all transactions have been correctly accounted for and that double-entry accounting principle hasn’t been broken. If you are not familiar with double-entry accounting principles, just use Profit & Loss Statement report and Balance Sheet report w…

Thanks for the replies, I’m definitely not familiar with double-entry accounting and I don’t think I should be unduly worried. I know the position I’m in, I was more curious at how these figures are derived. Seem like a silly way of looking at figures to me but that’s why I’m not an accountant!

Explanation of General Ledger figures

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Explanation of General Ledger figures

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