It is also called the second book of entry. It is a book in which all ledger accounts and related monetary transactions are maintained in a summarized and classified form. English Language Learners Definition of ledger : a book that a company uses to record information about the money it has paid and received Keep scrolling for more More from Merriam-Webster on ledger Ledger It is also known as the principal book of accounts as well as the book of final entry. A ledger is a book containing accounts in which the classified and summarized information from the journals is posted as debits and credits. In manual accounting systems, a ledger is usually a loose leaf binder with a separate page for each ledger account. In computerized systems, it consists of interlinked digital files, but follows the same accounting principles as the manual system.

The ledger contains the information that is required to prepare financial statements. cost ledger - ledger showing the accumulated costs classified in various ways general ledger - the ledger that contains all of the financial accounts of a business; contains offsetting debit and credit accounts (including control accounts) subsidiary ledger - details of an … All accounts combined together make a ledger and …

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