GL stands for General Ledger, which is a fancy way to describe the systems businesses use to track assets, revenue, and expenses. There are lots of opportunities for accountants to create a career out of General Ledger accounting, both within private companies or a public accounting firm.
Think of the General Ledger as the different categories you would break your own checking account down into. Was an expense for travel? Rent? Or did someone pay you some money for services provided? The GL helps accountants and companies track the events happening and segment out activity so they can understand how the business is functioning.
GL accountants are experts on the nitty gritty of the business and they use what is called a Chart of Accounts to make sure events are being recorded accurately. Accuracy in GL accounting is foundational and all other areas of accounting rely heavily on the Chart of Accounts. If expenses or revenue are categorized incorrectly then management is in the dark when trying to understand what is happening in their business.
That fundamental need for a clean set of books means every company out there needs good GL accountants – they are fundamental to a successful business. Being an expert in General Ledger accounting means working with partners outside of the finance group, which keeps your day interesting as you work with different divisions to understand and solve their problems. As a GL accountant you will become an expert in the all aspects of the business and develop a great great foundation to explore other areas of accounting
If you are interested in learning more about GL accounting head on over to our college search database and find the school that’s right for you.