Question: What is the difference between a General Ledger and a Nominal Ledger

Discussion in 'UK Accountancy' started by Sam, Jan 6, 2004.

  1. Sam

    Sam Guest

    Hello,

    My accountant has asked that I generate a Nominal Ledger report. I use
    Quickbooks Pro 2003 for my account. The nearest option given is the General
    Ledger report. Will this report be good enough for my accountant's
    requirements?

    Any help on this matter would be greatly appreciated!

    Sam.
     
    Sam, Jan 6, 2004
    #1
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  2. Sam

    Adam B Smith Guest

    I would think they are both the same
     
    Adam B Smith, Jan 6, 2004
    #2
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  3. Sam

    David Floyd Guest

    Why don't you ask your accountant?

    DF
     
    David Floyd, Jan 6, 2004
    #3
  4. Sam

    Dave Guest

    It's basically the same thing.

    Like the Americans have Payable & Receivable ledgers, we have Creditors
    and Debtors. Their Inventory is our Stock Control.

    Print one off and ask your accountant. We don't know what he's thinking!

    Dave
     
    Dave, Jan 6, 2004
    #4
  5. Sam

    Peter Saxton Guest

    It was Nominal Ledger in the UK and General Ledger in the USA but it's
    pretty changeable now. I would think what they want is a report for
    the year which shows all the transactions by account code - this can
    be produced using the General Ledger report.

    It's very inefficient compared to giving them the data file to look
    at. Can't they buy QuickBooks?
     
    Peter Saxton, Jan 6, 2004
    #5
  6. General Ledger is Nominal Ledger translated into American. That is what he
    is looking for.
     
    Jonathan Bryce, Jan 6, 2004
    #6
  7. much the same. rather like -

    trade creditors - amounts payable
    trade debtors - amounts receivable

    contract debtor accounting = finance debtor accounting = finance asset
    accounting
     
    Jeremy Westhead, Jan 6, 2004
    #7
  8. Sam

    Sam Guest

    Thanks to everyone that replied!

    Cheers,

    Sam.
     
    Sam, Jan 7, 2004
    #8
  9. Sam

    Jeronica Briggs

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    Nominal ledger is also tetmrd as General ledger.

    Jeronica Briggs
    Major: Accounting
     
    Jeronica Briggs, Apr 23, 2015
    #9
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