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General ledger accounting 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.
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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.

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.
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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.

Workflow automation

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

GL accounting software solutions

Sage Intacct

The smart cloud accounting and ERP solution to unleash the potential of your business. Learn why industry leaders choose Sage Intacct.

 

Discover Sage Intacct

 

Across all industries, Sage Intacct customers achieve an average of:

  • 250% ROI
  • 6 months payback
  • 79% close time reduction
  • 65% productivity improvement

Rated #1 in customer satisfaction by G2.

Sage 50cloud

Sage 50

Spend less time on admin to gain greater clarity on business performance with the #1 rated accounting software for small business.*

 

Discover Sage 50

 

  • Cash flow and invoicing
  • Payments and banking
  • Expense management and job costing
  • Advanced inventory management
  • Advanced reporting and audit trails
  • Payroll-ready

* Rated the best accounting software for small and medium businesses (SMBs) by The Blueprint, a Motley Fool service.

Keith Yoder

CFO, Hickory Creek Healthcare Foundation

Based on past experience with Microsoft GP’s reporting limitations, it was an easy decision to choose Sage Intacct's flexible, reliable reporting and modern accounts payable.

General ledger software FAQs

A general ledger, or GL, is a record of a business or organizations total accounts. This can include assets, liabilities, equity, expenses, revenue, and/or income.

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, workflow. Online GL accounting software can give you reliable visibility across your accounts on the go.

General ledger software allows you to connect your bank and sync your accounts for automated reconciliations and real-time visibility across your chart of accounts. It saves businesses time by automating workflows and increasing accuracy of your accounts and day-to-day financials.

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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