What is General Ledger?
A definition of General Ledger
“A general ledger is a complete record of all financial transactions of a company. It includes accounts for assets, liabilities, equity, revenues, and expenses.”

Business Glossary > What is General Ledger?
Examples of General Ledger in a Sentence:
The accounting department updates the general ledger daily.
A general ledger is essential for tracking a company’s financial health.
Without an accurate general ledger, financial reports may be unreliable.
Why is General Ledger Important in Business?
Understanding a general ledger is crucial for accurate financial reporting and analysis. It helps businesses track income, expenses, and understand their overall financial health. Accurate ledgers ensure compliance with accounting standards and regulations.
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Associated Terms
Here are some associated business terms and synonyms for “General Ledger”:
- Account Ledger
- Financial Ledger
- Book of Accounts
General Electric General Ledger
General Electric maintains an extensive general ledger to track its vast array of financial transactions across numerous subsidiaries and divisions. The accuracy of this general ledger is critical to GE’s financial integrity and compliance with regulatory standards.
Final Notes on General Ledger
When managing a general ledger, companies should ensure accurate data entry and regular reconciliation.
Advanced software solutions can streamline general ledger management and improve financial accuracy.
This has been a definition of General Ledger meaning.
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