What is the General Ledger?
The general ledger is the central accounting record containing all financial transactions organized by account, serving as the foundation for financial reporting.
It compiles data from subsidiary ledgers and journals, maintaining debit and credit entries for assets, liabilities, equity, revenues, and expenses. The general ledger provides the detailed information necessary to prepare financial statements, support audit trails, and analyze financial performance.
Modern general ledger systems automate posting, provide real-time balances, support multi-currency and multi-entity operations, and integrate with other financial modules. Accurate general ledger maintenance is fundamental to financial integrity, regulatory compliance, and informed business decision-making across all organizations.
IRIS Software Group
Award winning software and solutions for the businesses of the future
Discover why more than 100,000 customers across 135 countries trust IRIS Software Group to manage core business operations