The ledger is a record of all transactions made by a business, whether it is written or computerized. Transactions are recorded in different accounts in the ledger. The chart of accounts shows these accounts.

In general, large companies tend to have many accounts listed in their chart of accounts, whereas smaller companies might only have a few.

A general ledger is most often referred to as a ledger in an accounting text. In the general ledger, all the accounts in the chart of accounts are summarized and categorized.

General ledgers or ledgers are records of all the accounts that the company has.

The general ledger is always computerized in modern accounting systems. General ledger accounts are divided into three types: assets, liabilities, and equity accounts.

The majority of companies have many of the same general accounts like cash, accounts payable, and retained earnings, but some have specialized accounts specific to their business.