General Ledger Systems
**General Ledger Systems**
What is General Ledger Systems?
A general ledger system (GLS) is the core accounting record-keeping system for a company's financial data. It provides a centralized repository for recording and processing all financial transactions, which are then used to create financial statements like the balance sheet, income statement, and cash flow statement. GLS helps organizations track their assets, liabilities, equity, revenues, and expenses, ensuring accurate and reliable financial reporting. These systems are commonly used by businesses of all sizes to manage their financial operations and comply with accounting standards.
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