Define: General Ledger

UK Accounting Glossary

Definition: General Ledger

Quick Summary of General Ledger

General Ledger (GL) is a complete record of the financial transactions over the life of a company.

What is the dictionary definition of General Ledger?

Dictionary Definition


Full Definition of General Ledger

general ledger (GL) is a set of numbered accounts a business uses to keep track of its financial transactions and to prepare financial reports. Each account is a unique record summarising each type of asset, liability, equity, revenue and expense.

A general ledger represents the record-keeping system for a company’s financial data with debit and credit account records validated by a trial balance. The general ledger provides a record of each financial transaction that takes place during the life of an operating company.

The general ledger holds account information that is needed to prepare the company’s financial statements, and transaction data is segregated by type into accounts for assets, liabilities, owners’ equity, revenues, and expenses.


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Modern Language Association (MLA):
General Ledger. Payroll & Accounting Heaven Ltd. September 15, 2019
Chicago Manual of Style (CMS):
General Ledger. Payroll & Accounting Heaven Ltd. (accessed: September 15, 2019).
American Psychological Association (APA):
General Ledger. Retrieved September 15, 2019, from website:

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This glossary post was last updated: 24th December 2018.