Definition
A general ledger is a complete record of a company's financial transactions over its lifetime. It serves as the central repository for accounting data, including assets, liabilities, income, and expenses.
Related Services
Accounting services, financial reporting, and bookkeeping services help businesses maintain accurate general ledgers for regulatory compliance and financial analysis.
Problem and Application
Maintaining a general ledger can be complex for large companies with numerous transactions, and errors can affect financial reporting and compliance.
Conclusion
A well-maintained general ledger is essential for accurate financial reporting and tax compliance, supporting informed business decisions.
