Difference between revisions of "Ledger"
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==Definitions== | ==Definitions== | ||
According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
| − | :[[Ledger]]. | + | :[[Ledger]]. A group of [[financial account|account]]s that records data from [[financial transaction|business transaction]]s. |
==Related concepts== | ==Related concepts== | ||
Revision as of 14:57, 15 December 2018
Ledger (alternatively known as general ledger) is the book of final entry that represents all financial accounts of a legal entity. The Ledger's data is originated from book of original entry and taken either directly or through financial reports such as income statement.
On the contrary to any book of original entry that groups data in chronologically-recorded financial transactions, the Ledger groups data in separate financial accounts.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Ledger. A group of accounts that records data from business transactions.
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
