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Boost your accounting with general ledger software

General ledger accounting is an essential part of managing your business finances. Software and systems that can handle general ledgers can further streamline your accounting tasks, allowing you to focus on growing your business.
Explore our general ledger solutions

What is general ledger accounting software?

General ledger accounting software is a tool that helps businesses manage their financial data. It provides a central repository for all financial transactions and enables companies to keep track of all the financial transactions that occur within their organization, including sales, purchases, payments and receipts.

General ledger accounting software typically includes features such as:

  • Chart of accounts management: This feature allows businesses to create and manage their chart of accounts, which is a list of all the accounts used in their financial transactions.
  • Transaction recording: enables businesses to record all financial transactions in a central location, making it easier to monitor cash flow, and maintain accurate financial records.
  • Financial reporting: is the creation of a range of financial reports, such as balance sheets, income statements and cash flow statements.
  • Automation of accounting processes: automate many of the routine accounting tasks, such as creating journal entries, reconciling bank accounts and generating invoices. This can save businesses significant amounts of time and reduce the risk of errors.

What are the essential features of GL accounting software?

General ledger accounting functionality is a staple of a good accounting software suite. It enables automated GL functions that increase the efficiency, accuracy, security and visibility of your accounts.

Automated invoice capture

Capture receipts, invoices and expenses with intuitive technology.

Vendor management

Stay on top of vendor agreements to pay on time and accurately.

Real-time reporting

Get easy access to AP data and improve efficacy and agility.

Integrations

Seamlessly connect to your bank, tools, and other systems, to save time.
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Workflow automation

Track, route and approve with an automated, seamless workflow.

GL accounting software solutions

The right cloud nonprofit accounting software could shave weeks off your reporting cycle and free up much-needed budget and time. Our HR systems allow you to develop your people with leadership training and succession planning. Find your product today.

Sage Accounting

Flexible online accounting software for small businesses. Unlock potential, gain clarity, and save time.

Cloud accounting for solopreneurs and small businesses :

  • Customize, send and track invoices, quotes and estimates
  • Manage purchase invoices and suppliers
  • Forecast and control cashflow
  • Track performance with advanced reports
  • Calculate your GST/HST to submit to CRA

Sage Intacct<br><span class="text-highlight-ai" style="line-height:1.6;">with AI</span>

The leader in cloud accounting and financial management software. Perfect for scale-ups to global enterprises. Bespoke pricing, tailored to your business.
  • Track multiple accounts in real-time
  • Consolidate multiple entities and more in minutes
  • Collaborate from a single source of truth
  • Make strategic decisions with dimensional reporting and analytics
  • Open APIs allow multiple, stable, secure integrations

To be blunt, our ledger system was archaic and no longer fit for the size of our company.

Mike Newton
Finance Director, L W Cole

If Sage Intacct got taken away from us tomorrow, I’d feel like the business would go back twenty years.

Henry Shaw
Managing Director, L W Cole

General ledger software FAQs

A general ledger (GL) is the core record-keeping system for a business or organization's financial transactions, tracking all their economic activity. This includes managing every sale (income) and cost (expense). Financial transactions also involve tracking assets (what you own), liabilities (what you owe), and equity (the difference between both). Transactions that affect these categories, like buying equipment (increases assets) or taking out a loan (increases liabilities), are all recorded in the GL.

General ledger software is typically an instance of accounting software that is focused on the total accounts of an organization. A good GL accounting software is typically a module of accounting software that automates processes like invoice capture, reporting, and workflow. Online GL accounting software can give you reliable visibility across your accounts on the go.

Accounting ledger software typically offers seamless bank integration. You can automatically sync your accounts for effortless reconciliations and get a clear view of your entire chart of accounts. Real-time reporting empowers you with immediate access to financial positions, enabling informed financial decisions. Additionally, automated workflows tailored to your business needs help ensure accuracy in your accounts, freeing up valuable time to focus on growth initiatives.

While both general ledgers and journals keep track of accounting transactions, the key difference is that journals simply consist of a list of raw transaction data listed by date in sequential order, whereas general ledgers segment financial data into five key categories: assets, liabilities, expenses, equity and revenue or income.

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Expert advice

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