Difference between revisions of "Ledger"
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[[Ledger]] (alternatively known as [[general ledger]]) is the [[book of final entry]] that represents all [[financial account]]s of a [[legal entity]]. The ''Ledger's'' data is originated from [[books of original entry|book of original entry]] and taken either directly or through financial reports such as [[income statement]]. | [[Ledger]] (alternatively known as [[general ledger]]) is the [[book of final entry]] that represents all [[financial account]]s of a [[legal entity]]. The ''Ledger's'' data is originated from [[books of original entry|book of original entry]] and taken either directly or through financial reports such as [[income statement]]. | ||
| − | + | On the contrary to any [[book of original entry]] that groups data in chronologically-recorded [[business transaction]]s, the ''Ledger'' groups data in separate [[financial account]]s. | |
Revision as of 14:19, 12 December 2018
Ledger (alternatively known as general ledger) is the book of final entry that represents all financial accounts of a legal entity. The Ledger's data is originated from book of original entry and taken either directly or through financial reports such as income statement.
On the contrary to any book of original entry that groups data in chronologically-recorded business transactions, the Ledger groups data in separate financial accounts.
