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Accrued Dictionary

General Ledger

By PRETTY BOOKS ON September 24, 2020
Metaphorical definitions of complex accounting terms.

The accounting language is filled with highly technical words and phrases that describe the highly technical job functions of an accountant. The ACCRUED DICTIONARY is a collection of common terms accountants use broken down into easy-to-understand metaphors, jokes, and whimsy. The dictionary cuts through the technical jargon and gives you a metaphorical perspective at what these words mean

General Ledger

Noun. [jen-er-uhl•lej-er]
  1. Accrued Dictionary definition: A historical account of a company’s life, from birth to beyond. The autobiography details every event a company has experienced, including the highest highs and the lowest lows. Accountants study this autobiography to make reports and predictions for the future.

     // The accountant read the general ledger like a book, learning all about the company’s journey.

  1. Textbook definition: The record keeping system of all of a company’s financial data, from debit and credit card spending to expansion, providing a true record of every financial transaction a company makes in its entire lifetime.

     // The general ledger is a one stop shop for all of a business’ financial data.

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