For example, basic accounts include assets, net assets, revenue, expenses and liabilities. These categories may be subdivided in the general ledger to provide more detailed information. Advertisement ...

A general ledger provides a complete record of financial transactions for a business. Learn how it works, why it is important, and its examples in this guide.

The evolution of ledger systems can be traced back to the early days of human civilisation, where simple record-keeping forms were used to track transactions and assets.