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ledger

noun

/ˈlɛdʒ ɛr/

IPA:

Dictionary definition of ledger

A book or record that contains a systematic and detailed account of financial transactions.
"The accountant diligently recorded each transaction in the ledger."

Detailed meaning of ledger

It serves as a central repository for documenting and organizing financial information, typically for a business or organization. Ledgers are used to track and maintain accurate records of income, expenses, assets, liabilities, and other financial activities. They provide a chronological and structured overview of financial transactions, often categorized into different accounts or headings. Each entry in a ledger includes relevant details such as dates, descriptions, amounts, and the accounts affected. Ledgers are essential for bookkeeping and financial reporting, enabling businesses to monitor their financial health, prepare financial statements, analyze trends, and ensure compliance with accounting standards. With the advent of digital technology, ledgers have transitioned from physical books to electronic formats, allowing for easier data management, retrieval, and analysis.

Example sentences containing ledger

1. The company's ledger showed a significant increase in sales for the quarter.
2. The auditors examined the ledger to verify the accuracy of the financial statements.
3. The ledger revealed a discrepancy between the cash received and the recorded sales.
4. The ledger entries were organized according to different expense categories.
5. The business owner reviewed the ledger to assess the company's profitability.
6. The ledger served as a comprehensive financial record for the fiscal year.

History and etymology of ledger

The noun 'ledger' has its etymological roots in the Middle English word 'leggere,' which meant a large, flat stone used as a supporting slab for a roof or the floor of a building. This term was derived from the Old English 'lecge,' meaning a place where one lies or rests. Over time, 'ledger' transitioned from referring to a physical support structure to its modern sense as a book or record that contains a systematic and detailed account of financial transactions. The transformation of meaning highlights the evolution of record-keeping practices, from inscribing transactions on stone slabs to documenting them in written form, emphasizing the enduring importance of accurate financial records in commerce and business throughout history.

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Further usage examples of ledger

1. The bookkeeper meticulously balanced the ledger at the end of each month.
2. The ledger indicated a substantial decrease in inventory levels.
3. The bank reconciled its records with the customer's ledger to resolve discrepancies.
4. The tax accountant relied on the ledger to prepare accurate tax returns.
5. The ledger entries provided a clear audit trail for each financial transaction.
6. The treasurer updated the ledger to reflect the recent capital investments.
7. The ledger showed a steady increase in accounts receivable over time.
8. The forensic accountant examined the ledger for any signs of financial fraud.
9. The ledger entries included detailed descriptions of each expense incurred.
10. The company's financial health could be assessed by analyzing its ledger.
11. The ledger played a crucial role in tracking and managing cash flow.
12. The auditor discovered an error in the ledger that led to an adjustment in the financial statements.
13. The ledger served as a reliable source of financial information for potential investors.
14. The accountant meticulously updated the ledger with daily expenses.
15. She reviewed the ledger to track the company's financial health.
16. The historical ledger provided insights into the business's growth.
17. A digital ledger streamlines financial record-keeping for businesses.
18. Every transaction is recorded in the ledger for transparency.
19. Auditors meticulously examine the company's financial ledger.
20. The ledger revealed discrepancies that needed immediate attention.
21. A well-maintained ledger is essential for accurate financial reporting.
22. Technology has revolutionized how ledgers are maintained today.
23. He spent hours reconciling the ledger to balance the accounts.
24. A secure ledger is vital to protect sensitive financial data.