Question

What are the similarities and differences between the Transaction Detail by Account and the General Ledger?

Answer 1

Similarities between the Transaction Detail by Account and the General Ledger: Default view of general ledger and transaction details by account both provide you summary of all transactions of the current period. These reports provide beginning balance, ending balance of all the transactions. A balanced ledger shows the equal amount of debit and credit. Both reports provide you crucial information of how business manages its money.

Differences between the Transaction Detail by Account and the General Ledger- Both have many similarities only the difference is, "General ledger report shows all of your accounts while Transaction detail by account report shows the transaction for a single account".

A balanced ledger shows the equal amount of debit and credit. Transaction Detail by Account report includes the date and type of transaction and subtotals and totals.