WordGarden.ioledger
C1Pronunciation
UK
- /lˈɛdʒə/
US
- /ˈlɛdʒər/
Meanings
Noun
a book, file, or other record used to track financial transactions and account balances
a shared digital record of transactions or other data maintained across a blockchain or similar network
a horizontal support fixed to a wall or scaffold to carry joists, boards, or other structural members
Beyond the definition
Imagine a time before computers. If you were a shopkeeper tracking every penny coming in and out, you'd use a ledger, a special book for writing down money received and money spent. It's basically the old paper version of a spreadsheet. Even now, when most records are digital, the same idea is still at the heart of accounting.
The word comes from an old idea of something that lies in one place. These books were often large and heavy, so they stayed on a desk instead of being carried around. You can think of it as the main place where a person or company keeps its account records in order.
A ledger is a book or record used to keep track of financial transactions. Traditionally, it was one of the main tools of accounting: a bound book where debits and credits were written down to show money coming in, money going out, and the state of an account. You can picture a shopkeeper or clerk carefully entering each transaction line by line.
Physical ledgers are less common today because accounting software does the same job electronically, but the idea has not changed. Modern systems still use the term "general ledger" for the complete record of a business's accounts. This record supports reports such as balance sheets and income statements.
Most often, the word is used in business, banking, bookkeeping, and accounting. It can sometimes refer more generally to a formal written record, especially an old one, but its strongest and most common meaning is a record of accounts. So whether it is a large paper book on a desk or part of a modern digital system, a ledger is the organized record that helps the numbers tell a clear story.
Examples
- 1
Shop record
The shopkeeper wrote each sale in a ledger at the end of the day.
- 2
Rental payments
We keep a ledger of every payment made by tenants.
- 3
Business accounting
The accountant found the missing expense in the general ledger.
- Domainthe general ledger
the main record of a business's accounts
- 4
Ledger entry
Each ledger entry needs a date, an amount, and a short description.
More examplesFewer examples
- 5
Digital records
The system stores each transaction on a shared digital ledger.
- Domaina digital ledger
an electronic record, often shared across computers
- 6
Figurative balance
The scandal hurt his reputation, but his years of public service belong on the other side of the ledger.
- Phraseon the other side of the ledger
when considering the opposite facts in a situation
See also
Forms and spellings
2 forms open this card.
Main spelling
- ledgernoun
Forms
- ledgerspluralnoun