Difference between revisions of "GL"

Latest revision as of 01:35, 22 August 2020

General Ledger is a term describing the master record of a company or organization. The General Ledger comprises the consolidated information of its subledgers (the Chart of Accounts). The General Ledger is the basis for the key Finance & Accounting reports: Statement of Financial Position, Statement of Comprehensive Income, Statement of Comprehensive Income and Statement of Changes in Equity.

Use Cases

Examples of commonly used subledgers include:

• Cash
• Accounts Receivable
• Accounts Payable
• Fixed Assets

General Ledger 0 0 General Ledger, Subledger, Chart of Accounts, Finance, Accounting The master accounting record for a company or organization. It consolidates the information from its subledgers and is used to generate the key financial reports for the company or organization