General Ledger is the sum of all accounts that are used in the organization (or in the accounting unit), therefore all financial transactions - revenues and expenditures of the accounting unit during the reporting period.
General Ledger in practice: General Ledger continuously allows a true picture of the status and movement of assets, liabilities and results of operations of the organization. It consists of individual books (e.g. diary, analytical accounts, book of received invoices, cash register, etc.). It provides data for the preparation of financial statements. At the end of the accounting period it is closing.