General Ledger
A General Ledger is like the master record book for a company's finances. It's the main system where all financial transactions are organized and stored, similar to how a library organizes all its books in a catalog. This system tracks everything from daily sales and expenses to employee payments and investments. Accountants use the General Ledger to create financial reports, check the company's financial health, and ensure everything adds up correctly. Think of it as the financial backbone of any business, whether it's managed in modern accounting software or traditional methods.
Examples in Resumes
Managed daily General Ledger entries and reconciliations for a $50M company
Implemented new GL software system and trained staff on proper General Ledger procedures
Supervised monthly General Ledger close process and financial statement preparation
Typical job title: "General Ledger Accountants"
Also try searching for:
Where to Find General Ledger Accountants
Professional Associations
Online Communities
Job Boards
Example Interview Questions
Senior Level Questions
Q: How would you handle a complex month-end close process with multiple subsidiaries?
Expected Answer: A senior accountant should explain their experience managing consolidated financials, ensuring intercompany transactions are properly eliminated, coordinating with multiple teams, and maintaining a detailed close calendar with clear deadlines and responsibilities.
Q: Describe a time when you identified and corrected a significant General Ledger error.
Expected Answer: Should demonstrate problem-solving abilities, attention to detail, understanding of accounting impacts across different accounts, and ability to implement controls to prevent future errors.
Mid Level Questions
Q: How do you ensure General Ledger accuracy?
Expected Answer: Should discuss regular account reconciliations, review procedures, documentation practices, and proper approval processes for journal entries.
Q: What is your experience with month-end closing procedures?
Expected Answer: Should be able to explain the basic steps of closing the books, including accruals, reconciliations, and preparing financial statements.
Junior Level Questions
Q: What is a journal entry and why is it important?
Expected Answer: Should explain that journal entries are how transactions are recorded in the General Ledger, and understand basic debit and credit concepts.
Q: How do you organize your work to meet month-end deadlines?
Expected Answer: Should demonstrate basic understanding of prioritization, checklists, and time management in handling regular accounting tasks.
Experience Level Indicators
Junior (0-2 years)
- Basic journal entries and account reconciliations
- Understanding of accounting principles
- Basic Excel skills
- Account coding and data entry
Mid (2-5 years)
- Month-end close procedures
- Financial statement preparation
- Account analysis and problem solving
- Accounting software expertise
Senior (5+ years)
- Complex accounting transactions
- Team supervision and training
- Process improvement implementation
- Financial reporting and analysis
Red Flags to Watch For
- No experience with accounting software systems
- Poor attention to detail or organizational skills
- Lack of understanding of basic accounting principles
- No experience with month-end close processes
- Unable to explain basic debits and credits
Related Terms
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