What is the Meaning & Definition of general balance of the accounts

The general balance of the accounts (or accounting balance) is the financial status of a company over a given period. In order to make this State, the balance brings together all the assets (what the company owns), liabilities (what it needs) and the difference between them (net heritage) or, in other words, it includes all amounts in debit in credit of accounts and by difference all debit and credit balances. So it's a photography that presents the accounting situation of the undertaking over a given period. With this document, the Manager can access vital information about his case and has an idea available money and the State of its debts.
The assets of the undertaking includes the money that it has cash and at the Bank, accounts receivable, raw materials, las machinery, vehicles, buildings, and land. Liabilities, on the other hand, is the set of debts, bank bonds and taxes payable.
There is the general balance of the accounts is also known as the heritage status. This document presents several columns holding the values on the basis of assets and liabilities. The difference between them is the net patrimony, that is, the difference between what the company has and what it needs.
In addition to the usefulness of the scales for the business owners, its elaboration belongs to accountants. Accountants must point accounts to control with the detail of the ledger. At the close, the balance is presented to the Manager or Director, especially to one who is responsible for the decisions of the management of the company.