General ledger

In bookkeeping, a general ledger is a bookkeeping ledger in which accounting data are posted from journals and aggregated from subledgers, such as accounts payable, accounts receivable, cash management, fixed assets, purchasing and projects.[1] A general ledger may be maintained on paper, on a computer, or in the cloud.[2] A ledger account is created for each account in the chart of accounts for an organization and is classified into account categories, such as income, expense, assets, liabilities, and equity; the collection of all these accounts is known as the general ledger. The general ledger holds financial and non-financial data for an organization.[3] Each account in the general ledger consists of one or more pages. An organization's statement of financial position and the income statement are both derived from income and expense account categories in the general ledger.[4]

  1. ^ "What is a General Ledger?".
  2. ^ https://blog.workday.com/en-us/2022/understanding-the-basics-what-general-ledger.html
  3. ^ "Accounting Term Concepts" (PDF). Archived from the original (PDF) on 27 December 2015. Retrieved 12 February 2017.
  4. ^ "National Curriculum Statement Accounting Guide Grade 10" (PDF). Archived from the original (PDF) on 22 April 2016. Retrieved 26 February 2017.