Ledger – What is the meaning of Ledger, Format of Ledger

It is known as principal books of account in which account-wise balance of each account is identified.

CAknowledge Financial Dictionary.jpg

Material in this Article.

What is the significance of Ledger

The journal is the primary book of accounting system. It consists of various accounts where transactions connecting to that account are recorded. A ledger is the collection of all the accounts, debited or credited, in the journal proper and numerous unique journal. A ledger may be in the type of bound register, or cards, or different sheets may be kept in a loose leaf binder. In the journal, each account is opened ideally on separate page or card

The net outcome of all deals in respect of a specific account on a given date can be ascertained just from the journal. The management on a specific date wants to know the quantity due from a certain client or the quantity the company has to pay to a particular provider, such information can be found just in the journal. For easy publishing and location, accounts are opened in the journal in some certain order.

Format of Ledger

Ledger Format CAknowledge


1 photos of the "Ledger – What is the meaning of Ledger, Format of Ledger"

CAknowledge Financial Dictionary.jpg