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- Dictionaryledger/ˈlɛdʒə/
noun
- 1. a book or other collection of financial accounts: "the total balance of the purchases ledger"
- 2. a flat stone slab covering a grave: "the ledger stone of William Averie"
verb
- 1. fish using a ledger.
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A ledger in accounting refers to a book that contains different accounts where records of transactions pertaining to a specific account is stored. It is also known as the book of final entry or principal book of accounts. It is a book where all transactions either debited or credited are stored.
Jun 14, 2023 · The ledger is the principal book of accounts in which transactions of a similar nature relating to a particular person or thing are recorded in classified form. Also known as the general ledger, the ledger is a book in which all accounts relating to a business enterprise are kept.
A ledger in accounting is also known as the principal book of accounts as well as the book of final entry. Ledger is a book in which all accounts are maintained
Sep 14, 2023 · A Ledger is a date-wise record of all the transactions related to a particular account. Ledgers are crucial sources of financial records. A ledger is formed after the journal and is the secondary step of bookkeeping.
Definition: A ledger is a written or computerized record of all the transactions a business has completed. These transactions are recorded in the ledger in different accounts. This list of accounts is most often called the chart of accounts.
1. a. : a book containing accounts to which debits and credits are posted from books of original entry. Psmith, perched gracefully on a stool, entered figures in a ledger. P. G. Wodehouse. b. : a digital record that is used similarly to an accounting ledger (as for maintaining a list of transactions)
LEDGER definition: 1. a book in which things are regularly recorded, especially business activities and money received…. Learn more.
Apr 11, 2024 · An accounting ledger refers to a financial record book where accounting transactions are recorded. A ledger holds the accounts for a business or individual so that they can keep track of their financial situation. It is considered to be the single source of truth when it comes to finances.
The ledger is a permanent summary of all amounts entered in supporting journals (day books) which list individual transactions by date. Usually every transaction, or a total of a series of transactions, flows from a journal to one or more ledgers.
Jul 8, 2024 · A ledger is a book or database in which double-entry accounting transactions are stored and summarized. The information stored in a ledger comes from a source document, such as cancelled checks, credit memos, deposit slips, expense reports, invoices, material requisition forms, purchase orders, time cards, and sales receipts.