General ledger
General ledger is the master record containing every account used by a business. Journal entries are posted here after they are recorded, so each account holds a running total of its transactions.
Also known asthe ledger · GL
FrameworkDouble-entry bookkeeping
See it move
A four-step flow diagram traces the life of a transaction from recording to verification. Journal entries (the chronological record) are posted to the general ledger account by account, where they accumulate into individual account balances, which are then extracted as a trial balance — an equality check confirming that total debits equal total credits. The three connectors between steps are labelled "posted to", "accumulate into", and "extracted as", describing what happens at each transition.
Check yourself
In the accounting cycle, what distinguishes the general ledger from the general journal?