BGL full form in Banking refers to Branch General Ledger. In simple words BGL represents record keeping system for Banks internal debit and credit transactions records. These General Ledgers maintained at Bank Branches for accounting purpose. These BGL accounts not having any direct impact on Bank customer related transactions. Branch General Ledgers specially used for internal accounting transactions of the Bank from one Branch to its another Branch.
BGL USES IN BANK BRANCHES
To pass the internal transactions from one Bank Branch to another Branch
To make a payment to vendor bills.
To pass the notional entries in the CBS platform for balancing the accounts.
To accounting of staff payments.
BGL ACCOUNT IN BANK
Branch General Ledger account is internal system of account in the Bank. Its not having any impact on customer transactions.
CGL FULL FORM IN BANKING
CGL full form in Banking refers to Corporate General Ledger. Its only operate at Corporate Level. In Bank Branches CGL account can not be operated. CGL only operate at back end.
BGL AND CGL USED IN BANKING
Branch General Ledger and Corporate General Ledger used in the Banking for many purposes. In this table you get to know where they used.
DIFFERENCE BETWEEN BGL AND CGL
1 BGL full form is Branch General Ledger whereas CGL full form in Corporate General Ledger.
2 BGL used for accounting of Branch Level General accounting of transactions. Whereas CGL used to perform back-end transactions at Corporate Level.
3 BGL operated at front end. Whereas CGL operate at back end.
CONCLUSION
Dear readers in this article you get to know about of full form of BGL, Full form of CGL, BGL uses in Bank, BGL account in Bank, Difference between BGL and CGL. If you have any query regarding this article kindly comment.
