A general ledger account (GL account) that does not close at the end of the accounting year (as opposed to nominal accounts that do). It is an account that is permanent in nature- i.e., it will always be a part of a entity’s books once created. The account’s balance is carried forward at the end of each accounting period.
The main examples of real accounts are balance sheet accounts: assets, liabilities, and stockholders’ equity (see: examples of real accounts).
Real accounts are also known as permanent accounts.
