In banking, BGL stands for Branch General Ledger, which serves as a record-keeping system for internal debit and credit transactions within a bank.
The Branch General Ledgers are maintained at bank branches for accounting purposes.
It is important to note that BGL accounts do not directly impact customer-related transactions.
Instead, they are primarily used for internal accounting transactions between different branches of the bank.
These ledgers facilitate efficient tracking and management of internal financial transactions, ensuring accurate bookkeeping and financial reporting within the banking institution.
What is CGL in Banking?
CGL stands for Corporate General Ledger.
It is used only at the corporate level in banks.
This type of account cannot be used at bank branches and works in the background.
What are BGL and CGL in Banking?
BGL stands for Branch General Ledger, while CGL stands for Corporate General Ledger.
Both are used for different purposes in banking.
The table below shows how they are used:
Difference Between BGL and CGL
Full Form
BGL: Branch General Ledger
CGL: Corporate General Ledger
Purpose
BGL: Manages transactions at the branch level.
CGL: Handles backend transactions at the corporate level.
Where They Work
BGL: Works at the front end (Branch level).
CGL: Works at the back end (Corporate level).
