Question

What type of data is found in the general ledger master file?

What type of data is found in the general ledger master file?

2. Accounting Information Systems

Answer 1

Ans: The type of data which is found in the general ledger master file is the balance of each and every account in the charts of account.

All the entries which are recorded in journal voucher included cash and non cash basis are summarized in ledger and the

balance so computed at final show the nature whether the balance left is debit o credit and if debit then we will use accounting rules to determine whether to receive the money if its a debtor and credit if its a creditor and in such a case we have to gave the money

So Balance of each and every accounts is found