Ledger: The Main Books Of Accounts

                   Ledger The Main Books Of Account

The book in which accounts are maintained, is called Ledger. Generally, one account is open on one page of this book, but if transactions relating to a particular account are numerous, it may extend to more then one page. All transactions relating to that account are recorded therein chronologically. From journal each transaction is posted to at least two concerned accounts-- debit side of one account and credit side of another account .Remember that, if there are two accounts involved in a journal entry, it will be posted to two accounts in the ledger and if the journal entry consists of three accounts (compound entry) it will be posted to three different accounts in the ledger. 

Posting:

The process of transferring information-- debits and credits-- from journal to ledger is known as Posting.The goal of all  transactions is ledger. 

                    Transaction →  Journal → Ledger
So, the book in which all the transaction of a business concern are finally recorded in the concerned accounts in a summarised and classified form, is called Ledger.

Forms Of Ledger Accounts:

1. Standard form. 
2. Self- balancing form.