GTBank Impersonal Ledger: Definition and How It Works

GTBank Impersonal Ledger: Definition and How It Works

In banking, Impersonal Ledger is the record of transactions that’s not related to individual account holders. Unlike personal ledger which is more personal and related to people, impersonal ledger is concerned with bank’s overall financial activities. Impersonal Ledger is categorized into two main accounting book; cash book (or real ledger) and general ledger. As part of general ledger, impersonal ledger contains entries that deal with assets, liabilities, income, and expenses. Furthermore, the general ledger is divided into types namely private and nominal. In private ledger, all the transactions related to liabilities and assets are recorded. While in nominal all the transactions related to expenses and incomes of a person are recorded. However, all these definitions and uses of Impersonal Ledger are slightly different from the way GTBank handles Impersonal Ledger in its banking system. In this article, I will explain to you what GTBank Impersonal Ledger means , how it works, and potent…