examples of general ledger accounts

Explore examples of general ledger accounts to better understand how financial transactions are organized and recorded in your business. A general ledger serves as the primary record-keeping system, and each account tracks specific financial activities. Common examples include cash, accounts payable, accounts receivable, revenue, expenses, inventory, and owner's equity. These accounts are used to categorize financial data for accurate reporting, helping businesses manage cash flow, prepare financial statements, and stay compliant with tax regulations. Learn how to set up and maintain a general ledger with detailed examples.