general ledger (Meaning)

Wordnet

general ledger (n)

the ledger that contains all of the financial accounts of a business; contains offsetting debit and credit accounts (including control accounts)

No Synonyms and anytonyms found

The general ledger is a critical accounting record that provides a comprehensive overview of an organization's financial transactions.
Posting transactions to the general ledger is a fundamental step in the accounting process.
The trial balance is compiled from the balances in the general ledger accounts.
The general ledger serves as a permanent record of all business transactions, regardless of their individual significance.
Accountants rely on the general ledger to prepare financial statements that accurately reflect a company's financial position.
Reconciling the general ledger with subsidiary ledgers is essential for ensuring the accuracy of financial records.
The general ledger provides a detailed breakdown of income and expenses, allowing managers to analyze financial performance.
Auditors often review the general ledger as part of their financial statement audits.
Companies may maintain multiple general ledgers to separate transactions for different entities or business segments.
The general ledger is a valuable tool for financial planning, budgeting, and decision-making.

the ledger that contains all of the financial accounts of a business; contains offsetting debit and credit accounts (including control accounts)

No synonyms found.

No antonyms found.

The general ledger is a critical accounting record that provides a comprehensive overview of an organization's financial transactions.

Posting transactions to the general ledger is a fundamental step in the accounting process.

The trial balance is compiled from the balances in the general ledger accounts.

The general ledger serves as a permanent record of all business transactions, regardless of their individual significance.