General Ledger

A general ledger is the main record of all financial transactions within an organization, holding every debit and credit entry that affects the company’s accounts. It organizes transactions by account type, including assets, liabilities, equity, revenue, and expenses.

Accounting teams use the general ledger to track financial activity, prepare financial statements, and keep accurate records for audits. It provides a complete audit trail of all monetary transactions and is the basis for financial reporting and analysis.