How Do You Spell LEDGER?

1. A ledger is a comprehensive and organized book or set of records used to record financial transactions of a business or organization. It is essentially a primary accounting book that tracks all the debits and credits associated with the financial activities of an entity.

   In simple terms, a ledger acts as a central repository of financial information, containing detailed and summarized records of individual transactions, such as sales, purchases, expenses, and revenue. It serves as a reference tool for accounting professionals to maintain accurate financial statements, make informed decisions, and ensure the accuracy of financial records.

   Typically, a ledger is divided into different accounts, each representing a specific financial element or category. These accounts may include cash, accounts receivable, accounts payable, inventory, equity, and various expense and income accounts. Each entry in the ledger consists of the date, a brief description of the transaction, and the corresponding debit and credit amounts.

   The purpose of a ledger is to provide a reliable record of all financial activities and enable businesses to track their financial health, evaluate performance, and facilitate the preparation of financial statements, such as the balance sheet, income statement, and cash flow statement. With the advent of digital accounting systems, ledgers are now often maintained electronically, allowing for easier organization, searchability, and analysis of financial data.

2. • Applied in music to extra lines added to the stave.

   • The principal book of accounts in a merchant's office, to which the entries from the day book or journal are carried and placed under separate headings.

   Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.

Top Common Misspellings for LEDGER *

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Other Common Misspellings for LEDGER

The word "ledger" comes from the Old English word "lecgan" which means "to lay down" or "to put down". It is derived from the Proto-Germanic word "lagjaną". Over time, the meaning evolved to refer to a book or record where financial transactions are entered or "laid down". The word "ledger" has been in use in the context of accounting since the late 15th century.

Similar spelling words for LEDGER

Plural form of LEDGER is LEDGERS

Conjugate verb Ledger

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