Ledger (or book of final entry) is a record of accounts, each recorded individually (on a separate page) with its balance. (Ledger is also a book holding such records.) Unlike the journal listing chronologically all financial transactions without balances, the ledger summarizes values of one type of financial transactions per account, which constitute the basis for the balance sheet and income statement. Ledgers include:
Customer ledger of financial transactions with a customer.
Supplier ledger of financial transactions with a supplier.
General (nominal) ledger representing assets, liabilities, income and expenses.
Customer ledger of financial transactions with a customer.
Supplier ledger of financial transactions with a supplier.
General (nominal) ledger representing assets, liabilities, income and expenses.
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