Understand how the general ledger works in payPod.

What is a General Ledger?

The general ledger in accounting is basically the “big book” where all a company's financial transactions are recorded. Think of it as the central hub where everything is stored and neatly organized. It keeps track of things like assets, liabilities, equity, revenue, and expenses—basically, all the important stuff that helps paint the full financial picture of the business.

Whenever a transaction happens, it gets logged as a journal entry and then moved to the right spot in the general ledger. The general ledger makes it sure that the accounting equation (Assets = Liabilities + Equity) stays balanced, so the company’s finances stay in check. It's the backbone of everything that leads to financial statements, like the balance sheet and income statement.

Don't worry if this sounds confusing, you can still easily track your income and expenses if you don't yet fully understand accounting terminology.

How does the General Ledger work on payPod?

The general ledger page displays all transactions for all accounts - not just your bank and credit accounts. The transactions and balanced are shown according to the selected date range. You can further filter to view only one account using the Account drop-down

The general ledger page on payPod is "read only". If you need to make changes to any of the transactions, do so on the Transactions page.

To learn more about the different account types, read about the Chart of Accounts.