Ledger vs sub-ledger
The general ledger holds summary totals; a sub-ledger holds the itemised detail behind one. Both must agree — the sub-ledger reconciles up to the ledger.
Ledger vs sub-ledger is the relationship between the summary and the detail in your books: the general ledger carries one control total per account, and the sub-ledger carries the line-by-line entries that add up to it.
How it works
- The general ledger shows a single figure — say, £120,000 in accounts receivable.
- The receivables sub-ledger lists every invoice making up that £120,000, per customer.
- The sub-ledger’s total should equal the control account to the penny.
When the two agree, the summary is trustworthy and the detail is auditable. When they don’t, something posted to one and not the other — and that gap is the thing to find.
Why it matters
The general ledger is what you report; the sub-ledger is what you can defend. Reconciling one to the other is how you prove a headline number is real rather than a rounding of guesses. A sub-ledger that no longer ties to its control account is an early sign that entries are being missed, duplicated, or misposted — a small crack that widens into an ugly audit.
How Fynex does it
Fynex posts every payment and payout as a discrete journal entry with a confidence signal, so the detail behind each control account stays complete and in sync — the same discipline that keeps bank reconciliation an exception queue. See reconciliation.