What is general ledger account? Meaning and explanation

The general ledger is the full set of accounts on which all financial transactions of a business are recorded. Each GL account has a number and description and belongs either to the balance sheet (assets, liabilities, equity) or to the profit and loss account (income and expenses). In the Netherlands, charts of accounts are often structured according to a standard such as the Referentie Grootboekschema (RGS).

For a firm, choosing the GL account is the core of coding a document. A wrong GL account distorts the result, the cost analysis and sometimes the tax return. Because each administration can have its own chart of accounts, knowledge is hard to transfer. Consistent choices per supplier make the annual accounts and the review much easier.

Autoboeker synchronises the GL accounts from Exact Online, Twinfield, SnelStart and e-Boekhouden and proposes a GL account for each entry based on the administration's history. You can split an entry across multiple GL accounts, including a percentage allocation. With administration rules, global rules and AI instructions you record which GL account applies to certain costs.