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General Ledger

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Where does every dollar your business touches get written down?

One master record for all your business money.

A bank statement shows what moved through your account. It does not show what you owe or what customers owe you. A general ledger holds all of it, sorted into accounts. Below, you will find the five kinds of accounts and the one question a ledger answers that a statement never can.

  • The five kinds of accounts, in plain words
  • Ledger, cash book, and bank statement: how they differ
  • Where ZIL MONEY fits with your accounting tools
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Ledger or cash book?

One is bigger than the other.

General ledgerThe whole picture. It holds what you own, what you owe, and what came in and went out.
Cash bookOnly cash coming in and going out. It is one part of the ledger.

Every bill is a line in your ledger.

A bill you have not paid is money you owe.

Add a bill

Enter the vendor, dates, and amount once.

See it in Bills

Each bill shows as Unpaid until you pay it.

Hand off the details

Send them to your accounting tools.

Accounts payableInvoice management

Add a note

A memo explains the entry later.

MemoInvoice no.Category

Keep your books in sync

Works with QuickBooks, Xero, Zoho, and other accounting tools.

See all integrations

Works with the tools you already use.

Connect your accounting tools and more. See all integrations

QuickBooks OnlineQuickBooks DesktopXeroZoho BooksFreshBooksSage Business Cloud AccountingOracle NetSuiteMicrosoft Dynamics 365WaveBill.comOdooSalesforceHubSpotZapierSlack

Ledger terms, in plain words.

Most of the confusion comes down to one idea: who owes whom.

I do not know the five account types.

Assets, liabilities, equity, revenue, expenses. Own it, owe it, owners keep it, earned it, spent it.

Payable or receivable?

Payable is what you owe. Receivable is what you are owed. Both sit in the ledger, on opposite sides.

Is my bank statement my ledger?

No. It is one source of entries. The ledger adds your bills and invoices, then sorts everything by account.

My ledger and my bank do not agree.

That is normal at first. Timing, fees, and typos explain most gaps.

My entries come from many places.

Bring them into one place. Link your business bank accounts and run reports on income, expenses, and cash flow.

I am not always at my desk.

Use your phone or tablet. Do it from anywhere.

Four steps to a ledger you can read.

Good entries in, good answers out.

1

Put each payment in an account

Assets, liabilities, equity, revenue, or expenses.

2

Record bills and invoices too

Not just cash. What you owe and are owed belongs here.

3

Compare to the bank

Match your entries to the statement.

4

Share with your accounting tools

Keep your records in step.

Easy to learn. Quick to help.

In their own words, from businesses that use ZIL MONEY.

Rachel Ruiz, Business Strategy Manager at Lennar Title

“Working with ZIL MONEY has been such a great experience.”

We use their platform to create and send eChecks to multiple parties, and it’s been incredibly smooth and efficient. Anytime we have a question or run into an issue, their team is quick to respond and always helpful.

Rachel RuizBusiness Strategy Manager, Lennar Title
Mike S. of Experity

“ZIL MONEY has been a game-changer for our business!”

Their payment support is top-notch, quick, reliable, and always ready to assist with any questions we have.

Mike S.Experity
Cory Edwards, Owner of Edwards Holdings Realty

“The most helpful part is that ZIL MONEY can be used by everyone.”

It’s very easy to navigate. The user interface is very easy to learn. It solves the problem of having various accounting software separately and unable to integrate.

Cory EdwardsOwner, Edwards Holdings Realty

Common questions

What is a general ledger?
It is the main record of a business’s money. Every payment, bill, and sale is written into an account, so you can see the full picture.
What is the purpose of a general ledger?
It gives you the details behind your financial reports. It also helps with planning and gives you records to show during an audit.
What kinds of accounts are in a general ledger?
Five kinds: assets, liabilities, equity, revenue, and expenses.
Is a general ledger the same as a cash book?
No. A cash book tracks only cash movement. It is a part of the ledger, which also covers what you owe and what you are owed.
What is the difference between accounts payable and accounts receivable?
Accounts payable is what your business owes to others. Accounts receivable is what others owe to your business.
How does a general ledger relate to my bank statement?
Your statement is one source of entries. The ledger adds your bills and invoices and sorts it all by account.
Can I see my unpaid bills in ZIL MONEY?
Yes. The Bills list shows each bill with a status, from Unpaid to Paid.
Does it work with QuickBooks?
ZIL MONEY connects with QuickBooks, Xero, Zoho, and other accounting tools, so your payments and books stay in sync.

Give your ledger better data.

Open an account, or book a short demo and we will show you around.

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Have a question? Talk to our team