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The principal book of accounts of a business enterprise in which all the daily transactions are entered under appropriate headings to reflect the debits and credits of each account.

Information that is contained in a ledger can be admitted into evidence in a lawsuit pursuant to the business record exception of the Hearsay rule.


noun account book, account of transactions, accounts, balance sheet, bankbook, book of accounts, book of records, books, calculation, cashbook, codex accepti et expensi, computation, daybook, diary, entries, file, index, log, logbook, passbook, profit and loss statement, record, record book, record of credits and debits, record of money transactions, register, registry, running account, statement
See also: account, journal, register, roll

LEDGER, commerce, accounts, evidence. A book in which are inscribed the names of all persons dealing with the person who keeps it, and in which there is a separate account, composed generally of one or more pages for each. There are two parallel columns, on one of which the party named is the debtor, and on the other the creditor, and presents a ready means of ascertaining the state of the account. As this book is a transcript from the day book or journal, it, is not evidence per se.

References in periodicals archive ?
During installation of the general ledger system, CITIC kept the existing core banking system running in parallel with Fiserv's general ledger system, and performed daily reconciliation.
It would require major changes to general ledger accounts to electronically (or manually) identify the income statement amounts of these items.
Modify the general ledger to accommodate ABC information.
Summarize your trial balance by the general ledger account for the period you wish.
We believe that to ask the question is to answer it: There is little, if any, value in requiring taxpayers to shoehorn their thousands of general ledger accounts into Lines 1 through 26 on page 1.
The ending annual general ledger balances for all companies are downloaded into individual systems by company.
XBRL for the general ledger can increase the speed and reduce the cost of consolidating information for business and regulatory reporting.
For a company to fully benefit from this tax planning suggestion, however, new procedures must be properly implemented on the general ledger, and all accounting personnel must be trained.
G/L Import Manager -- identifies and assigns account ownership for new general ledger accounts, and reassigns existing accounts when personnel changes occur.
The author shows a chart of accounts from a general ledger that summarizes various accounts, but neglects to mention most general ledger systems allow the accountant to expand the accounts to show direct costs by department, activity and other variables not just by department.
The key to solving this problem was to create a data warehouse using an extract of the general ledger in a Microsoft Access database.
Assurity provides an enterprise process management system for general ledger account reconciliation, review and certification.

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