Accounting General Ledger
The Accounting General Ledger is a record-keeping system that contains all financial transactions of a business, organized by accounts. It serves as the central repository for all financial data, allowing for the tracking and monitoring of income, expenses, assets, and liabilities. Each transaction is recorded in the ledger using double-entry accounting, where debits and credits are entered to ensure accuracy and balance. The General Ledger provides a comprehensive overview of a company's financial health and is essential for preparing financial statements and reports for stakeholders.
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