A book of account that contains an entity’s accounts to which debits and credits are posted from books of original entry. This involves records of transactions pertaining to a specific account. A ledger keeps track of expenses, profits, and other financial transactions/ events. A ledger can be a digital or physical log in which transactions are recorded and stored within a financial system.

A ledger represents the formal records of transactions and events that an entity is involved on or a party to, which include both records of debit and credit accounts. Under accounting conventions, both debt and credit accounts always match. Types of transactions are categorized using general ledger accounts (GLs) in monetary terms. Examples of such ledger accounts also include revenues, expenses and transfers.

A “chart of accounts” represents a complete systematic recording of every account in an accounting system.

In another context, a blockchain is a type of ledger.