General Ledger Software

Get the best general ledger software for your business. Compare product reviews, pricing below. Read our buyer’s guide for more help.

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Sage Intacct Screenshot
Sage Intacct
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Sage Intacct is a web-based, SaaS accounting and financial management software system designed for use by small and mid-size organizations. Sage Intacct was built by finance professionals, for finance professionals, providing…
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Web
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Cloud Hosted
SoftLedger Screenshot
SoftLedger is your system of record for all things financial, across your entire organization. By utilizing the latest cloud technology, we provide a flexible financial management solution that includes best in class…
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$45/month
Client OS
Web
Deployment
Cloud Hosted
Traverse Screenshot
Traverse
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Traverse is an ERP system from Open Systems, Inc. offering financial, operations, and sales functionality. Traverse provides comprehensive integration for key business processes, while offering the ability to scale from 5 to…
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Starting Price
$100/month/user
Client OS
Web, Windows
Deployment
Cloud or On-Premises
BS1 Accounting Screenshot
BS1 Accounting
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(2)
BS/1 Accounting is a small business accounting software providing an integrated accounting system that includes accounts payable, accounts receivable, a general ledger, inventory control, and sales analysis. The software is…
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Starting Price
$139 (perpetual license)
Client OS
Windows
Deployment
On-Premises
Zoho Books Screenshot
Zoho Books
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(4)
Zoho Books is an online accounting software that lets you manage your financials and banking, automate your sales and purchasing workflows, and even track time and create reports. Zoho Books includes accounting capabilities…
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$9/month
Client OS
Web
Deployment
Cloud Hosted
FreshBooks Screenshot
FreshBooks
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FreshBooks is a cloud accounting solution designed for freelancers and small business owners. It is a simple and intuitive solution, so accounting isn’t intimidating. Create professional invoices, capture your expenses and…
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Starting Price
$15/month
Client OS
Web, iOS, Android
Deployment
Cloud Hosted
QuickBooks Online Screenshot
QuickBooks Online
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(28)
QuickBooks Online is the most flexible way to link multiple users and locations to their business finances-anytime, anywhere. It has the accounting functionality of QuickBooks desktop software, but instead of installing it on…
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$15/month
Client OS
Web
Deployment
Cloud Hosted
Passport Business Solutions Screenshot
Passport Business Solutions
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(1)
Passport Business Solutions is an integrated software solution designed to give you greater control over your company’s operations and profitability. Strong transaction audit trails, versatile reporting options, graphical…
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   $     $     $     $     $   
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Windows
Deployment
On-Premises
Eagle Business Management Software (EBMS) Screenshot
Eagle Business Management Software (EBMS)
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(15)
EBMS contains complete enterprise resource planning tools that are important in managing a business more efficiently. The EBMS software is a great upgrade from more basic software such as QuickBooks and Sage 50/Peachtree…
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Client OS
Windows
Acumatica ERP Screenshot
Acumatica ERP
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Acumatica is a cloud ERP system designed for the SMB market. Acumatica includes functionality for financial management, customer management, project accounting, distribution management, manufacturing management, field service…
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Starting Price
$12,800/year
Client OS
Web, Windows
Deployment
Cloud or On-Premises
PENTA Screenshot
PENTA
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(1)
Built with state-of-the-art technology and an open ORACLE database, PENTA delivers with Project Management, Financial Management, Equipment Cost Control and Labor Management. PENTA’s Project Management Module is a…
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Windows, Web
Deployment
Cloud or On-Premises
Tabs3 Screenshot
Tabs3
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(1)
Tabs3 provides both Tabs3 Billing and Tabs3 Financials depending on your needs. The billing software helps you get bills out quickly and easily and provides management reports. The Financials product meets the accounting…
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Starting Price
$72/month
Client OS
Windows
Deployment
On-Premises
FinancialForce Screenshot
FinancialForce
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(1)
FinancialForce is an accounting system delivered on-demand from Force.com, the world’s leading cloud computing platform pioneered by Salesforce. It is a unique and effective financial management system in its own right, but…
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Starting Price
$175/month/user
Client OS
Web
Deployment
Cloud Hosted
FlexiFinancials Screenshot
FlexiFinancials
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(1)
FlexiFinancials, developed by Flexi Software, is a full suite of accounting solutions for companies in several industries including Banking, Insurance, and Financial Services. The FlexiFinancials suite consists of a cohesive…
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Client OS
Web, Windows
Deployment
Cloud Hosted
Accounting Seed Screenshot
Accounting Seed
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(3)
100% native full accrual accounting app. on Salesforce. Accounting Cloud tracks financial data through the entire business lifecycle; from marketing, project implementation, product sales, back office accounting, to producing…
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Starting Price
$250/month
Client OS
Web
Deployment
Cloud Hosted
S2K Enterprise Software Screenshot
S2K Enterprise Software
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(2)
VAI’s technology roadmap, [VAI’s] shared vision with IBM, provides companies with a business model based on best industry processes that leverages technology to create value and improve performance. The S2K family of products…
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Web, Windows, Linux
Deployment
Cloud Hosted
Enterprise 21 Screenshot
Enterprise 21 ERP software is a fully-integrated ERP system for small and mid-market manufacturing and distribution organizations. Designed to facilitate industry best practices, Enterprise 21 includes comprehensive software…
Client OS
Windows, Web
Deployment
Cloud Hosted
ProcessPro Screenshot
ProcessPro
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(18)
ProcessPro offers a robust ERP system with full manufacturing, inventory and financial integration - a complete system from beginning sales order entry through the manufacturing and accounting process. The software solves the…
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Starting Price
$100,000 (perpetual license)
Client OS
Windows
Deployment
Cloud or On-Premises
SapphireOne Screenshot
SapphireOne
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(2)
SapphireOne is an on-premise software suite for Mac and Windows operating systems. The suite includes ERP, CRM, DMS, and business accounting. An optional web pack is also available, giving users access to the software from…
Client OS
Mac, Windows
Deployment
On-Premises
LedgerLite Screenshot
LedgerLite is an accounting system for any organization that needs a general ledger or cashbook. The solution provides double-entry bookkeeping and can maintain the books of any sized business. LedgerLite is great for…
Price Range
   $     $     $     $     $   
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Starting Price
$50 (perpetual license)
Client OS
Windows
Deployment
On-Premises

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General Ledger Software Buyer’s Guide

What Is General Ledger Software?

General ledger software provides a complete record of the financial management of a business, including the transactional records and the account structure used to organize these entries into meaningful financial information. A general ledger is the core of your accounting ledger, as all entries from other applications flow into the general ledger. This financial information becomes critical to your business decision-making.

General ledger functionality is also found as a primary function in accounting systems. The general ledger will summarize the organization’s financial accounts which accounts payable and accounts receivable. Some of the main accounting items tracked in a general ledger include assets, liabilities, capital, revenues, and expenses. General ledger software gives your business the ability to create the company’s financial statements, such as income statements and balance sheets.

Bookkeeping at small businesses can be accomplished with general ledger software for simple data entry, basic financial reporting, or a desire to add subledgers to their Excel spreadsheets. CPAs and accountants may use general ledger software that was developed for accounting firms for the purpose of creating trial balances. Larger businesses may look to ERP software that provides a full business management suite, which will include a general ledger accounting module within its financial management section.

General Ledger Software SoftLedger
The general ledger in SoftLedger.

Features of General Ledger Software

  • Chart of Accounts: Create a list of accounts used by the organization. Define items for which money is spent or received.
  • Financial Statements: Create reports about your company’s financial results, position, and cash flows. Examples of reports include sales, cost of goods sold, gross profit, administrative overhead, taxes, and depreciation.
  • Journal Entries: Organize and classify business transactions in the order they happened. Transfer debit and credit accounts from the journal to the ledger account.
  • Audit Trails: Trace financial data to the source document and view the full process of the transaction.
  • Budget vs Actual Reporting: Create an estimate of revenues and expenditures and compare them against the actual recorded income and expenses once they occur in real-time.
  • Import/Export via Spreadsheets: Use a spreadsheet program such as Excel or Google Sheets to import or export data into your general ledger solution
  • Multi-Entity Consolidations: Consolidate the financials of separate entities within your organization, such as centralizing payables, receivables, and reports.
  • Multi-Currency Conversion: Manage accounts in different currencies depending on the bank account currency.
Zoho Books Bank Reconciliation General Ledger Software
Bank reconciliation is a feature in some general ledger software such as Zoho Books.

Benefits of General Ledger Software

A general ledger software will help control your accounts and better organize your sub-account structure. It will also enhance your reporting and streamline any company consolidation that is needed. Some of the other key benefits of general ledger software include:

Technological Benefits

Using a general ledger software over manual processes keep you more organized and have your information more readily accessible. It will also transform the way you may record information into your general ledger. One example is the use of electronic data interchange (EDI), which can help update inventory general ledger records in conjunction with sales order transactions as they occur. In fact, automatic updates in your general ledger work best when your general ledger is connected to other functions in your accounting software, such as accounts payable or accounts receivable.

Financial Benefits

Because the GL provides a wide variety of functions related to a company’s core financial records, automation and efficiency features (reversing entries, intercompany transfers, drill-down, report scheduling, etc) can create significant financial savings through reducing costs related to executing administrative tasks.

Access to meaningful financial data (as provided by proper chart of accounts, departmentalized records, budget vs actual numbers) provides the foundation of managing a company “by the numbers” and allows for better business development decision making (what to invest in, performance evaluation, decisions on product lines, distribution methods, marketing decisions, expansion, etc).

GL optimization provides the clarity and controls necessary to reduce tax burdens. GL’s provide the core financial health reporting which may be needed by banks or other investors to secure capital.

Financial Report Editor Sage Intact General Ledger Software
A sample general ledger report available for editing in Sage Intacct.

Other Benefits

  • Increase overall profitability by enabling access to meaningful financial data from company records via improved financial categorization and monitoring tools in order to improve decision-making on key issues such as what to invest in, individual/team/department performance evaluation, product line decisions, sales channels, distribution methods, marketing decisions, business expansion, and beyond
  • Increase access to bank financing by being able to provide key company financial performance reports
  • Lower tax burden by supporting tools to optimize strategic accounting and prevent accounting errors
  • Decrease labor costs related to task-oriented financial tasks via automation features (for example, for reconciliations, reversing entries, transfers) that enable reductions in payroll for the financial team or freeing up time to spend on more strategic work more likely to improve company performance
QuickBooks Online Chart of Accounts General Ledger Software
The chart of accounts in QuickBooks Online.

Financial Statements Created With General Ledger Software

One of the largest benefits of general ledger software is the ability to create custom financial statements and reports for up-to-date information on the well-being of the company. Some of these statements include:

Income Statements

Income statements explain your current company performance by monitoring debits and credits, bank account balances, and most importantly how much income has been made during a set period. They can help decision-makers understand various revenues and expenses that have occurred during the selected period. They also include metrics such as total income, the total cost of goods, gross profit, total expenses, and net income.

The income statement can help answer the following questions:

  • How much was sold? (Net sales)
  • What were the costs of the items sold? (Cost of goods sold)
  • What were the overhead costs? (Total operating expenses)
  • What was the income before taxes? (Net income before taxes)
Income statement General Ledger Software
An example of an income statement.

Financial Ratios

Financial ratios are relationships created from your financial information found in the general ledger software and are used for comparison purposes. In short, they help make sense of your financial data. They take a large amount of data and turn it into a performance indicator that your company can analyze.

An example of a financial ratio that can be created with general ledger software includes a common size analysis. This type of report translates each line item into a percentage of net sales. Each line in the income statement becomes its own financial ratio which uses net sales as a common denominator.

The benefit of these types of reports is their attention to each line item, and the ability to benchmark performance against other companies of different sizes.

Common size analysis general ledger software
An example of a common-size analysis report.

Trend Analysis Reports

Comparisons can help your business determine if your company is better or worse off than previous periods. Trend analysis is important in business so decision-makers know if what they are doing is working or if changes need to be made.

An income variance report breaks down income and expenses during the current period and a selected period, showing the difference and the variance percentage. These reports can let you know when sales are up or down, what type of sales are overperforming or underperforming, and to take better control of your product costs.

Income variance report General Ledger Software
An example of an income variance report.