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General Ledger

Accounting & Bookkeeping Glossary

Definition

The general ledger is the master record of every financial transaction in your business. Every sale, expense, payment, and adjustment lives here, organized by account. Think of it as your company's complete financial diary. When your bookkeeper 'closes the books' each month, they're making sure the general ledger is accurate and complete.

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Related Terms

Chart of AccountsBookkeepingJournal Entry

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