What is General Ledger (GL)?

General Ledger (GL) is a key component to an organization's accounting system, serving as a comprehensive record of all financial transactions. It organizes these transactions into accounts such as assets, liabilities, revenue, and expenses, which are used to generate financial statements and track the financial health of the organization. The general ledger ensures accurate financial reporting and helps businesses maintain a clear overview of their finances.

A huge aspect of accurate GL records is payroll and being able to track payroll expenses such as wages, taxes, and benefits. This data helps organizations understand, from a payroll standpoint, exactly where their labor costs are being allocated—whether across departments, locations, or positions—providing valuable insight for budgeting, financial analysis, and overall cost management.

Empeon's General Ledger solution maps various payroll-related items, such as earnings, deductions, and taxes, to their corresponding accounts. With each payroll processed, a General Ledger Report is generated that details all payroll data and the accounts from which they are allocated, which can then be imported into the organization's accounting system for GL tracking.

For questions or assistance regarding setting up GL within Empeon Workforce, please contact Empeon Customer Support.

For questions relating to how to view and maintain GL once it has already been set up within Empeon Workforce, please refer to Empeon's article General Ledger (GL) Configuration.