Ledger meaning: A ledger in accounting refers

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. What is Ledger? Meaning of Ledger Ledger is a concept of classifying transactions in accounting, and it is a part of the most important concept in accounting. The accounting process cannot be completed without ledger because the classification process of accounting is done through ledger . Under this, different groups are created according to the nature of the transaction, and all the related transactions are recorded in related group which is called a ledger account. The book in which ledger ... Ledger : Definition , What, Posting, Format, Need, Subdivision, Balancing | Ledger is a summary statement of all the transactions relating to a person, asset, expenses or income which have taken place during a given period of time and show their net effect.