Ledger: meaning, definitions and examples

A ledger is typically used in business and accounting to maintain a detailed record of financial transactions. It helps in tracking debits and credits to ensure accuracy in financial reporting.

• The accountant updated the ledger with the latest transactions
• The company's financial health can be assessed by reviewing the ledger

An account book is used to keep track of financial transactions, often in a simpler format compared to a ledger. It can be used by individuals, small businesses, or organizations to record income and expenses.

• She keeps an account book to manage her household expenses
• The small business owner uses an account book to track daily sales

A record book can be used to keep notes or logs of various kinds, not limited to financial transactions. It can be used in different contexts such as academic, medical, or personal records.

• The teacher maintains a record book for student grades
• She keeps a record book of her medical appointments

A journal is a detailed chronological record of financial transactions before they are transferred to a ledger. It is often referred to as the book of original entry in accounting.

• Each financial transaction is first entered into the journal
• He reviewed the journal entries for any discrepancies before updating the ledger

A ledger is often used in accounting or bookkeeping. It refers to a book or a digital record that holds financial transactions.

• The accountant updated the ledger with the month's transactions.
• Every sale was recorded in the company ledger.

A record refers to documentation of information or an event. It is a broad term that can be used in legal, medical, historical, and many other contexts.

• The hospital keeps a record of all patient treatments.
• The historical records showed how the town developed over the years.

A document is a general term for any written, printed, or digital piece of information. It can be used in various contexts including business, academic, or personal use.

• Please sign this document before the meeting.
• She saved the document on her computer.

A log is used to keep track of events or activities over time. It is commonly used in contexts like software development, marine or aviation operations, and security.

• The ship's captain wrote the day's events in the log.
• The software automatically generates a log of all user activities.