Accounting

General Ledger

The complete record of all financial transactions of a business, organised by account, from which the financial statements are produced.

The general ledger (GL) is the master record that holds every transaction, grouped by ledger account — cash, sales, purchases, a particular customer, and so on. In double-entry accounting, each posting updates the GL, and the financial statements are derived from it.

A “posted” general ledger means transactions are committed to the books rather than left as drafts, giving an auditable, reliable trail.

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