THE LEDGER

A ledger is a set of account. It contains all the accounts of a specific business enterprises. It may be kept in any of the following two forms :

• Bound ledger and
• Loose Leaf ledger

A bound ledger is kept in the form of book which contain all the accounts. These days it is common to keep the ledger in the form of loose - leaf cards. This helps in posting transaction particularly when mechanized system of accounting is used.