General Ledger

A General Ledger (GL) is the core accounting record of a company, systematically recording all financial transactions across various accounts, including assets, liabilities, equity, revenues, and expenses.

Each entry in the GL comprises:

• A debit and credit transaction

• A corresponding date

• A transaction description or reference number

The General Ledger provides the foundation for preparing a company’s trial balance, financial statements, and audit reports. Modern businesses, especially those using cloud-based accounting platforms in the UAE or GCC, maintain digital ledgers integrated with invoicing, inventory, payroll, and banking systems.