This document provides an overview of general ledgers and their role in accounting. It discusses how general ledgers act as the central repository for financial transactions recorded in subledgers like accounts payable, accounts receivable, inventory, and fixed assets. General ledgers summarize transaction details from these subledgers and use the information to generate financial statements. Automated accounting packages and ERP systems make it easier to manage large volumes of transactions and provide timely financial reporting through their use of general ledgers and integrated subledgers.