{"id":620,"date":"2013-10-04T10:34:16","date_gmt":"2013-10-04T14:34:16","guid":{"rendered":"http:\/\/carleton.ca\/facts\/?page_id=620"},"modified":"2017-05-29T13:23:43","modified_gmt":"2017-05-29T17:23:43","slug":"general-ledger-gl","status":"publish","type":"page","link":"https:\/\/carleton.ca\/facts\/glossary\/g\/general-ledger-gl\/","title":{"rendered":"General Ledger (GL)"},"content":{"rendered":"<h3>What is it?<\/h3>\n<p>The General Ledger, or GL, is an accounting term used to describe an entity\u2019s complete record of financial transactions.\u00a0It holds all of the financial information required to prepare financial statements, aid budget managers and support strategic planning.<\/p>\n<p>At Carleton University, the <a href=\"http:\/\/carleton.ca\/facts\/foapal\/\" target=\"_blank\" rel=\"noopener noreferrer\">FOAPAL<\/a> is an accounting string used to record entries into the GL and allows for segregation of financial activity into <a href=\"http:\/\/carleton.ca\/facts\/asset\/\" target=\"_blank\" rel=\"noopener noreferrer\">assets<\/a>, liabilities, <a href=\"http:\/\/carleton.ca\/facts\/revenuerecovery\/%20\" target=\"_blank\" rel=\"noopener noreferrer\">revenues<\/a>, <a href=\"http:\/\/carleton.ca\/facts\/expense\/%20\" target=\"_blank\" rel=\"noopener noreferrer\">expenses<\/a> and Fund balances.<\/p>\n<h3>Why is it important?<\/h3>\n<p>It is important to properly categorize the financial activity on the general ledger to generate financial statements that are meaningful to the University\u2019s stakeholders, provide useful information to departmental, Fund and project managers and to support assessment of the University\u2019s strategic goals.<\/p>\n<h3>Where do I find more information?<\/h3>\n<p>For more information on using the FOAPAL to record your financial transactions, see:\u00a0 <a href=\"http:\/\/carleton.ca\/facts\/foapal\/\" target=\"_blank\" rel=\"noopener noreferrer\">FOAPAL<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is it? The General Ledger, or GL, is an accounting term used to describe an entity\u2019s complete record of financial transactions.\u00a0It holds all of the financial information required to prepare financial statements, aid budget managers and support strategic planning. At Carleton University, the FOAPAL is an accounting string used to record entries into the [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"parent":58,"menu_order":64,"comment_status":"open","ping_status":"closed","template":"","meta":{"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_mi_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":"","_links_to":"","_links_to_target":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>General Ledger (GL) - Financial Administration Community Training &amp; Solutions<\/title>\n<meta name=\"description\" content=\"What is it? 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