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What is the general ledger?

The general ledger, which is commonly referred to as the “GL”, is where all accounting transactions are stored. A general ledger employs double-entry bookkeeping, which means that each transaction must impact 2 accounts and the debits and credits must equal.

The general ledger is the most granular level of a company’s accounting records. Activity in the general ledger can then be summarized by account and by period in the trial balance.


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