Ledger

A ledger is a systematic record of financial transactions for a business or organization. It acts like a detailed logbook where each entry shows money coming in (credits) or going out (debits). Ledgers help track the financial health by organizing data into accounts, such as income, expenses, and assets. Traditionally, ledgers were physical books, but now they are often digital, allowing for easier updates and analysis. They are essential for accurate bookkeeping, helping businesses evaluate their performance, prepare financial statements, and ensure compliance with regulations.