G/L Account Category

A G/L account category is like a labelled folder in the financial filing system, grouping similar types of transactions in the General Ledger.

A G/L account category refers to a classification system used in the General Ledger that groups similar types of financial transactions together, aiding in the organisation and analysis of a business's accounting data.

Think of a G/L account category as a neat folder in the financial filing cabinet—it helps organise and group similar types of money activities in the General Ledger, making it easier to keep track of and understand a business's finances.