Definition of General Ledger

Central reporting of the accounting information in which the summary financial transactions (called from subsidiary ledgers) during an accounting period are recorded. Also called the book of final entry the General Ledgers also provides the entire data for preparing financial statements for the organization.

By reviewing such reports as Balance Sheets, Profit and Loss Statements and Trial Balances medical offices can see the what is being spent vs. what is being made on different medical procedures and treatments.  General Ledger reports have more of an overview than Job Costing reports. General Ledger displays overall debits and credits while Job Costing focuses more on detailed information such as medical procedure and treatment expenses on all different aspects of the medical cases weather be past information, present information or future information.