General Ledger Functions As the core component of an SAP system, an SAP general ledger provides for consistency in financial and management accounting procedures via a single data source.

A general ledger is the record of accounting information to organize and summarize financial transactions. It provides all data for financial statements.

Records of all the financial accounts a business maintains are called the general ledger. Types of accounts in the ledger may include assets, liabilities, expenses, and revenues, among others.

The general ledger is used differently depending on the account in question, but the balance sheet is the best-known use of it, so we’ll start with that as an example.

In the general ledger, all accounting activities are summarized and sorted into one of the following subcategories: assets, liabilities, owners’ equity, revenues, and expenses.

The general ledger is a vast historical data archive of your company’s financial activities, including revenue, expenses, adjustments, account balances, and often much more. The detailed transactions ...

AssureNET GL, designed for companies with high volumes of ledger accounts and users, provides distinct workflow management for reconcilers, reviewers and approvers.

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