A general ledger account (GL account) that does not close at the end of the accounting year (as opposed to temporary accounts/ 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 permanent accounts are balance sheet accounts: assets, liabilities, and stockholders’ equity (see: examples of permanent accounts).

Permanent accounts are also known as real accounts.