What is a GL Entry?
GL Entry Definition
An accounting journal entry is a mechanism for recording an accounting transaction in a company’s accounting records, such as accounts receivable, cash, investments, equipment, inventory, land, and so on. All transaction data required to compile the income statement, balance sheet, and other financial reports is contained in general ledger accounts. The accounting records are put together in the main ledger, sub-ledgers, and ultimately the general ledger.
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