What is ledger

Financial Statements. Your Privacy Rights. To change or withdraw your consent choices for Investopedia. At any time, you can update your settings through the "EU Privacy" link at the bottom of any page. These choices will be signaled globally to our partners and will not affect browsing data. We and our partners process data to: Actively scan device characteristics for identification. I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Part Of.

Terms A-B. Terms C. Terms D-E. Terms F-M. Terms N-O. Terms P-S. Terms T-Z. Table of Contents Expand. What Is a General Ledger? Cooke, National Review , 25 Oct. Johnson, Milwaukee Journal Sentinel , 23 Sep. First Known Use of ledger , in the meaning defined at sense 1a. History and Etymology for ledger Middle English lygger, leger large breviary, beam, probably from leyen, leggen to lay. Learn More About ledger. Time Traveler for ledger The first known use of ledger was in See more words from the same year.

Style: MLA. English Language Learners Definition of ledger. Get Word of the Day daily email! Companies use the general ledger to record all of the accounts in the chart of accounts are summarized and categories in the general ledger.

The general ledger or ledger is a record of all the accounts that the company uses. In all modern accounting systems, the general ledger is computerized. A general ledger divides accounts into three account types: assets, liabilities, and equity accounts. The purpose of the Debtors Ledger is to provide knowledge about which customers owe money to the business, and how much.

More information on Debtors Ledger. The Creditors Ledger accumulates information from the purchases journal. The purpose of the Creditors Ledger is to provide knowledge about which suppliers the business owes money, and how much.