What is Included in the General Ledger?

The general ledger serves as a comprehensive record of a company’s financial transactions. It encompasses a range of accounts that monitor the organization’s assets, liabilities, equity, revenues, and expenses. Within the general ledger, you will typically find accounts like cash, accounts receivable, accounts payable, inventory, property, plant and equipment, long- term debt, equity, revenue, and various expense accounts. Utilizing the principles of double entry bookkeeping, each transaction in meticulously recorded in the general ledger by debits and credits to ensure the integrity and accuracy of the financial records.