ledger

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Related to ledgers: general ledger, trial balance

General Ledger

A record of all of a company's financial statements. It contains two columns: one for credits and one for debits. See also: Balance sheet.

ledger

the ACCOUNTING records that keep a note of a firm's day-to-day financial transactions with outside parties. For example, the purchases or CREDITORS ledger would show the value of raw materials or services purchased from each supplier, payments made to suppliers for these, and any amounts still owing to suppliers. Similarly, the sales or DEBTORS ledger would show the value of goods or services sold to each customer, amounts they have paid for these, and any amounts still owed by customers. In former times such ledger accounts took the form of bound ledgers in which entries were recorded by hand; nowadays they are generally kept as computer records. Fig. 50 shows the main ledger accounts. See DOUBLE-ENTRY ACCOUNTS.
References in periodicals archive ?
One of the most important of these rules has to do with the "family ledger.
At worst, the army used ledgers as evidence against "hostile" Indians, giving credence to these records' accuracy only when it allowed the military to punish Indians in the aftermath of the final battles waged for the American West.
The technical reference for the engineering design of connections in wood construction is the National Design Specification for Wood Construction (NDS) (AF&PA 2005); however, commonly accepted means of connecting deck ledgers to band joists fall outside the scope of the NDS.
Q I plan to add a deck onto my house, but I'm not sure how to flash around the ledger board.
However, the longer it takes to identify them, the more difficult and inefficient it becomes to reopen the accounting ledgers and record the transactions or to adjust the SEC registrant's financial statements.
This can result in artificially low results regarding program and policy aggregates, maximum premiums, escrow/working funds and collateral amounts, as well as incorrect accounting ledgers.
Finding itself lagging its peers, who had years earlier migrated from manual ledgers, one of the largest international insurance companies began deploying technology in 1999 to automate its general ledger--a move driven not by actual operational problems, but by potential ones.
In others, detailed tax ledgers are kept, for example, with depreciable assets, so that more complex computations can be made with regard to specific assets and transactions.
The original interpretation includes examples such as (1) adjusting, closing, combining or consolidating journal entries and (2) information normally contained in books of original entry and general ledger or subsidiary ledgers.
Signature books and deposit ledgers are connected by account number and the name of the depositor.
In a wide-ranging study, of admirable clarity, Cynthia Brokaw describes what must certainly be one of the more unusual methods, the Chinese ledgers of merit and demerit, a sub-type of the many kinds of Chinese morality or instructional books (shanshu) designed to help people realize the good in themselves.
Since all affected journals and ledgers are updated when a transaction on the financial statements and subsidiary ledgers.