A primer for beginners on how to use ledgers properly

The most crucial administrative function of business lies in correct bookkeeping. Use this easy guide on how to use a ledger to keep track of your numbers.

Get started growing your business with a B12 website.

No credit card required
A primer for beginners on how to use ledgers properly


Transcript: Hi everyone today we're talking about the general ledger and I'm your instructor brandy the ledger is the next step in our accounting cycle you've already watched a video about how to get transactions into a journal by making journal entries now we're going to take those journal entries and put them into the ledger and what the ledger is is a chronological listing of all the transactions in one account so we'll have a ledger account for cash we'll have a ledger account for accounts payable we'll have a ledger account for revenue and so on in a previous video you looked at these examples and how they got into the journal and we made these journal entries now let's put these journal entries into the general ledger so this is what our general journal is going to look like for each account we're going to have a listing of all the transactions within that individual account and we're going to keep a running total of the account balance so at any point we can make the financial statements from the general ledger balances let's see how we put our transactions from the journal entries into the general ledger... See more →

Key quotes:

  • "To start, Ethereum is a transaction system that anyone can use to send and receive internet money called Ether, among other things."
  • "Accounts and Keys:If you want to send or receive Ether or Tokens on Ethereum, you will need an account."
  • "Ethereum accounts and contracts have what is called a public address that looks like this (a string of characters A-F, 0–9 in what is called “Hexadecimal” or “HEX” format): 0x88d221E36A68B19dd8aD1a5d4c21bE41a6d47b57 You will use these addresses to send, receive Ether and Tokens or use services (like ENS) on Ethereum."
  • "Accounts, not smart-contracts, have something called a private key, this is the key that allows anyone who has it to send Ether, Tokens and services to and from its public address."
  • "Anyone who has the private key can access to all of the funds, Ether, tokens and assets stored at it’s public address."
Read more →

Key quotes:

  • "(I’ll let you figure out what “currencies” means on your own time.) Because there can be only one block officially chosen, each ledger keeper has to work for the right to be that one."
  • "Analogically, the ledger keepers don’t “solve” the sudoku by actually figuring it out like you or I would."
  • "The important things to understand are that a “block” is a list of transactions, and when confirmed they’re added to a “blockchain” that forms a concrete ledger that firms up over an hour or so."
  • "Specifically, the transactions entered into the blockchain don’t necessarily just contain financial information, but can actually consist of executable code."
  • "When deployed to the network these applications are called Smart Contracts."
  • "(Guards are put around who can execute these functions, which are tied to the relevant accounts.) Smart Contracts form a transparent and cost-effective way to store money and the state of the agreements around that money."
Read more →

Key quotes:

  • "Businesses have identities recorded on government ledgers to track their existence and their status under tax law."
  • "Oliver Williamson, the 2009 Nobel laureate in economics, argued that people produce and exchange in markets, firms, or governments depending on the relative transactions costs of each institution."
  • "But the value of the firm comes from the way that nexus is ordered and structured — the firm is in fact a ledger of contracts and capital."
  • "It is a new way to maintain a ledger — that is, coordinate economic activity — distinct from firms and governments."
  • "Institutional cryptoeconomics is interested in the rules that govern ledgers, the social, political, and economic institutions that have developed to service those ledgers, and how the invention of the blockchain changes the patterns of ledgers throughout society."
  • "A cryptobank structured algorithmically by smart contracts would have the same transparency properties as the bank with a public blockchain ledger but with other features that might completely neglect the need for regulators."
Read more →

What customers & experts say

Freddie Customer / Suffolk Equity Partners

“B12 is amazing! You get a high-quality design for the price of DIY. It's really remarkable.”

Sheila Customer / Dr. Sheila Hughes Weight Loss & Wellness

“There's absolutely no comparison between our old website and the B12 one. Our B12 website gives us the call to actions we need and better communication tools with our patients. Since our B12 launch, we started seeing more online visitors scheduling a consultation through our website.”

Read more →
Rick Customer / Rick Finbow Enterprises, LLC

“I think it's great that B12 is watching out for me. I'm reminded to update my website and I get ideas. I like that I'm not in it alone.”

Annabel Customer / Evolv Ventures

“My B12 experience has been great! What I appreciate most is that I can edit the site personally whenever I want to, but I can also ask for support when there are changes that I'm not able to make myself. B12 is great blend of a DIY service and a full-service website agency.”

Read more →
Leslie Customer / Social Theory

“What I appreciate most about B12 is its user-friendly interface. Not only do they build websites that look modern and great, but they’re also incredibly easy to manage and update. Whenever I have information that needs changing on my website, I can do it easily on my own.”

Read more →
Stafford Customer success at B12

“B12's goal is to provide the best customer experiences and I am so happy to be a part of that mission. Helping customers create a website that brings their vision to life is, by far, the best part of being here.”

Daniel Sales at B12

“I'm proud to work for B12 and deliver the product and service we do. Too often, individuals do not have the time or industry knowledge to build, manage, or maintain a website. In today's world, your website can be your best friend. We strive to make sure your best friend is working as best it can!”

Mandie Design expert at B12

“I have thoroughly enjoyed working with the B12 website editor. It allows me to make pixel-perfect websites in a fraction of the time.”

Willie Customer / Urlife Now Fitness

“I like that someone is monitoring my website every month and making suggestions for how to improve it.”

Chuck Customer / Crowdfluencer

“My B12 website looks great, I am truly satisfied with the outcome. I love the responsiveness of our new website, plus it's incredibly light and fast. The team did an incredible job with the styles and the designs really popped for me.”

Read more →
Dan Customer / Dan Garcia Photography

“B12 bookings is truly one of the best features of my web page. My customers can always get in touch with me with this awesome tool.”

Carlos Customer / FitFuel

“If you want to sit at the head of the table, use B12. It is clear they have talented designers who are genuinely motivated to see you reach your goals.”

Read more →
Megan Customer success at B12

“The website editor rocks! It makes it easy to add new items while keeping the same theme and structure I set when I created the site, no reformatting needed. It's fool proof and provides everything needed to create a seamless, gorgeous website. I actually use B12 for my own website!”

Roberto Customer / Emerald Gardens

“B12 was able to give us the flexibility we needed to play around with website elements while guiding us in our first attempt at building a website.”

Read more →
Liam Sales at B12

“B12 aims to help small business owners by saving them time to focus doing what they do best — running their business. We want to help them increase their bottom line by providing high-quality websites at a fraction of the price charged by boutique agencies and other DIFY providers.”

Ready to grow your business online?

Join the tens of thousands of professionals who’ve found success with a B12 website, SEO, blogging, and more!

Get a website in minutes
This website uses cookies to ensure you get the best browsing experience.  Learn more
I agree