Ledger in Accounting

What is Account?
An account is a specific accounting record of increases and decreases in a particular asset, liability, or owner’s equity item.

What is Ledger?
The entire group of accounts maintained by a company is ledger.
The objective of Ledger is to organize and summarize the specific transactions listed in the journals.
A ledger gathers all information (increase or decrease) of a specific account and shows the account’s current balance.
                      
What is Posting?

Transferring journal entries to the ledger accounts is called posting.

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