Ledger
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),
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
