What is a general ledger account?

What does general ledger account mean? How is that related to balance sheet?

Your Answer

General ledger is part of a system used by accountants to create the firm’s financial statements. Transactions are posted to the general ledger accounts, and the accountant generates a trial balance, a report listing all the accounts and each account’s balance. The trial balance is adjusted by posting additional entries, and the adjusted trial balance is used to generate the financial statements.

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