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Definition of Ledger
A book or database in which accounting transactions are stored and summarized.
A collection of all the different accounts of the business that summarize the transactions of the
A book that contains all the accounts of the company and the balances of those accounts.
The master set of accounts that summarizes all transactions occurring
A firm's cash balance as reported in its financial statements. Also called book cash.
An accounting record giving the detailed transactions in an account; the subtotals of the debits and credits are posted to the control account maintained in the general ledger. It helps to keep the general ledger free of clutter.
‘Buckets’ within the ledger, part of the accounting system. Each account contains similar transactions (line items) that are used for the production of financial statements. Or commonly used as an abbreviation for financial statements.
The process of taking the balances from the bank statement and the general ledger and making adjustments so that they agree.
cash A firm's cash balance as reported in its financial statements. Also called ledger cash.
A lease in which the lessee obtains some ownership rights over the asset
A listing of all accounts used in the general ledger, usually sorted in
An account maintained in the general ledger that holds the balance without the detail. The detail is maintained in a subsidiary ledger.
Date on which holders of record in a firm's stock ledger are designated as the recipients of
The date on which holders of record in a firm's stock ledger are designated as the
a source document that provides virtually
Arrangement whereby sales are made with no formal debt contract. The buyer signs a receipt,
Purchase and sale statement. A statement provided by the broker showing change in the customer's net
The process of taking journal entries and recording them in the general ledger.
An account that is kept within a subsidiary ledger, which in turn
The format used for a general ledger page. The name of the account is put on the top line, and a vertical line is dropped from the top line (hence the "T"). Debits are recorded on the left side, and credits are recorded on the right.
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