Ledgers

A ledger is a special record used to track all financial transactions of an individual or organization. It lists every income, expense, asset, and liability, helping to organize and summarize financial data. Think of it as a detailed notebook that records every monetary movement, allowing for accurate financial management, reporting, and analysis. In traditional accounting, ledgers are physical books; in digital systems, they are electronic databases that automatically update with each transaction. This essential tool provides transparency, supports decision-making, and ensures financial accuracy.