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Excerpt

A General Ledger Account (synonymous with Account and GL Account) is a unique identifier used to store specific accounting data in the General Ledger. A General Ledger is made up of multiple General Ledger Accounts that are each classified as either:

  1. Balance Sheet - Asset
  2. Balance Sheet - Liability
  3. Balance Sheet - Equity
  4. Income Statement - Revenue
  5. Income Statement - Expense