Accounts Payable General Ledger is the financial record of an organization’s current and past debts. This record includes all liabilities such as products or services purchased on credit, taxes owed, employee salaries, interest payments, and more. The General Ledger also tracks any credits and payments that reduce the total amount owed. Keeping a comprehensive and accurate Accounts Payable General Ledger helps businesses assess their financial situation, identify areas of excess spending, and formulate strategies for managing debt. Proper records help organizations make sound financial decisions, enabling stability and growth in the long run.