Ledger

Introduction and meaning
The records of transactions in the journal may run into thousands of pages and it may be difficult to find out the details about a particular transaction. It doesnot provide the information about the details about the position of a particular account. So, to find these transactions easily, all transactions of the same nature are grouped into one place. This is done by opening accounts in a book called "ledger". So, a ledger is a statement prepared to collect and record transactions re;ating to similar nature or subject into one place. It is a book of secondary entry because it is prepared from journal. When any transactions occur, a recording is made in the journal and then it is re-recorded in the ledger.This process of re-recording is known as posting.