A general ledger account at group chart of accounts is an account in SAP used to record transactions for IFRS purposes. Ending balances in these accounts are then aggregated to report in the financial statements. A few general ledger accounts are designated as reconciliation accounts. These accounts only contain summary balances that have been posted from sub-ledgers (for example accounts receivable and accounts payable).

A complete list of all IFRS general ledger accounts that a company uses is contained within the group chart of accounts, which is a simple listing of account numbers and account descriptions. The chart is usually organized to show all balance sheet accounts, followed by all income statement accounts.