ERP Accounting Hub | Complete ERP & Accounting Tutorials

ERP General Ledger (GL): How It Works, Examples & Complete Guide An ERP general ledger is the central accounting record where posted financial transactions are organized by account and used to maintain balances, reconcile subledgers, prepare trial balances, and support financial reporting. Unlike a manual ledger, an ERP GL is usually connected to sales, purchasing, inventory, payroll, banking, and other business processes. When a business makes a sale, receives a supplier invoice, pays an employee, buys inventory, or records depreciation, the accounting effect eventually has to reach the general ledger. A posting there is more than an account and an amount. In many ERP systems it also carries extra classifications such as department, project, cost center, or location. The accounting principles are the same double-entry principles used in traditional accounting. What changes in an ERP is how transaction information moves between operational modules, subledgers, and ...

A business owner buys a delivery van for $12,000 and pays the full amount from the bank today. Then the accountant says, "We will not show the whole $12,000 as an expense this year." The owner is confused: "But I paid all of it today. Why not record all of it today?" This is one of the most natural questions in accounting, and the answer is depreciation. The van will help the business earn money for several years, so its cost is shared across those years instead of landing on a single one. This guide explains depreciation methods from zero. You do not need any accounting background. Every new term is explained in plain language first, then shown with numbers. Purchase Laptop costs $1,200 → Useful life 4 years, then sold for $200 → Annual depreciation ($1,200 − $200) ÷ 4 = $250 → Carrying amount $950 after Year 1 Depreciation explained with a simple real-life asset: a laptop bought for business use. What Is Depreciation in Simple Words? De...