What is a Ledger?
Answer:
Ledger is short for “general ledger”
– and refers to the “books” in businesses where all accounting transactions are recorded. A double entry system is utilized where debit entries are posted on the left and credit entries are posted on the right. In addition, another column on the far right is where the running total is posted.

A general ledger is organized by accounts. The categories for these accounts include: Assets, Liabilities, Owner’s Equity, Revenue, and Expenses. Although once done manually, many individuals and companies now choose to utilize a computerized version of the general ledger. Computer spreadsheets allow easy recording and reviewing of records.
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