No items found.
FREE DOWNLOAD: 16 Must-Track Financial Metrics for Subcontractors
Download Now →
By clicking “Accept All Cookies," you agree to let Siteline store cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Policy for more information.
Construction Glossary >
General Ledger (G/L)
Construction glossary

What is a General Ledger (G/L)?

A General Ledger (G/L) in the construction industry is a fundamental financial tool for recording all financial transactions of a construction company including assets, liabilities, equity, revenue, and expenses. It not only reflects every financial transaction related to a construction project, but also contains crucial details such as date, description, and transaction amount. Essentially, the G/L acts as the core of a construction company's financial record system where all transaction data from sub-ledgers or modules, such as accounts payable, accounts receivable, and cash management, are consolidated. It provides a comprehensive financial picture necessary for reporting and strategic decision-making in the construction business. By regularly maintaining and auditing the G/L, construction companies can ensure financial accuracy and compliance, as well as evaluate their financial performance and stability.