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Bookkeeping

General Ledger

The general ledger is the master accounting record - the central repository for all financial transactions, organised by account. Every journal entry flows to the general ledger. The ledger accounts feed into the trial balance and then the financial statements. Accountdesq's GL tool lets you record transactions, assign them to accounts, and export a structured Excel workbook.

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How it works

Create ledger accounts (cash, receivables, payables, revenue, expenses), post transactions with dates and references, and the tool organises them by account with running balances. Export to Excel.

$10,000.00 Dr
$2,500.00 Dr
$2,500.00 Cr

Grand Total Debits

$12,500.00

Grand Total Credits

$2,500.00

Common Mistakes to Avoid

  • Posting transactions to the wrong account
  • Not reconciling ledger balances to source documents

Best Practices

  • Post transactions at least weekly
  • Reconcile all balance sheet accounts monthly

Why use this tool?

A properly maintained general ledger makes year-end accounting dramatically faster and produces reliable financial statements.

Frequently Asked Questions

The general ledger (GL) is the master record of every financial transaction, organized by account. Every journal entry is posted to the GL. It's the source from which the trial balance and financial statements are built.

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Disclaimer: Accountdesq provides this General Ledger for informational and convenience purposes only. Output is not a substitute for professional accounting, legal, or tax advice. No data entered is transmitted to or stored on our servers - all calculations happen locally in your browser. Accountdesq accepts no liability for errors in generated documents. Always consult a qualified accountant or tax professional for compliance matters.