General Ledger Accounting Services

general-accounting

Professional general ledger accounting services will save you time, money and unnecessary headaches

The general ledger is one of the most basic tools in the financial arsenal of any business and is the foundational storage area for both financial and non-financial data. A company’s general ledger contains every necessary account to which transactions are recorded to satisfy the basic accounting equation (Assets = Liabilities + Owners Equity), revenues and expenses. It acts like a central bank of sorts for the storage of business accounting information and is where posting to main and sub-accounts occurs.

General Ledger Accounts

General ledger accounting uses a framework listing various account types. This structure,  called a chart of accounts, assists in the preparation of trial balances. Trial balances allow for the preliminary financial reporting of debit and credit activities in the general ledger, thus ensuring they remain in equitable balance. These general ledger accounts include asset and liability accounts, equity accounts, revenue (income) and expense accounts, and contra accounts (these accounts offset negative balance accounts) used for clarification of certain activities.

General Ledger Accounting Services

A good financial services company provides professional general ledger accounting services that include chart of account design and setup, general journal entries, month end closings, balance sheet analysis, credit and collections activities, and other general ledger related activities as dictated by the needs of the business. These may also include financial reporting, the recording and analysis of financial data, timely preparation of financial statements and reports and assistance with their interpretation.

Because proper general ledger accounting services are highly demanding and challenging, most business owners simply do not have the time or experience level to adequately work with the numbers to the extent necessary in order to provide an accurate financial picture of their business operations. The bottom line here is, if you don’t get these numbers right and understand their significance to your business’ bottom line you are setting your company up for potentially serious problems down the road. Regarding general ledger accounting services, “winging it” will simply not cut it for any business to be successful.

Dragon Financial Inc. has specialists with the necessary expertise and experience to provide top-notch general ledger accounting services tailored to client business needs and will ensure that your general ledger accounts are always up to date. Additionally, Dragon Financial, Inc. will analyze the data and prepare professional reports with comments and recommendations of any issues requiring immediate actions as well as all situations that should be addressed in the near term. Contact Dragon Financial today to learn more about how their professional general ledger accounting services will help you build your business along a true path to success.

Dragon Financial, Inc. · 7140 SW Fir Loop Suite 100 · Tigard, Oregon 97223 · 503-844-8794 · www.dragonfinancial.com


Stephanie Gray

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