Ledger

A ledger may be defined as either a physical book or a digital computer file where monetary and financial transactions are noted down and recorded - either in the form of debits or in the form of credits. Usually, ledgers also include the balance for each individual or account that is part of that particular set of economic records, along with the date of each financial transaction.

While physical ledgers are getting less popular, digital ones are being extensively used worldwide, in many different scenarios. For instance, a company or business may use a digital ledger to keep track of its financial transactions. Ledgers may be used for tracking sales, purchases, or simply the exchange of funds between employees (or between different companies).