What is the overall term for the book of accounts used in accounting?

The overall term for the book of accounts used in accounting is the General Ledger. This is a comprehensive collection where all the financial transactions of a business are recorded. Each account in the ledger includes detailed information such as debits and credits, providing a complete picture of the company's financial activities. The General Ledger serves as the primary source from which financial statements are prepared, making it essential for maintaining accurate financial records.

Other terms provided are related but serve different purposes within the accounting system. For instance, the Trial Balance is a report that lists the balances of all ledger accounts at a particular point in time to ensure that total debits equal total credits. An Account Journal is typically where transactions are first recorded chronologically before they are posted to the General Ledger. Financial Statements summarize the financial position and performance of a business but are derived from the information contained in the General Ledger. Therefore, the General Ledger is the foundational book of accounts that holds all the financial data necessary for comprehensive accounting.