A ledger is a principal book or accounting record that contains all financial transactions, accounts, and balances for a business or organization. Ledgers serve as the foundation of double-entry accounting systems, where transactions are recorded chronologically and classified into debit and credit entries for each account. Ledgers provide a detailed account of all financial activities, including revenues, expenses, assets, liabilities, and equity, enabling accurate financial reporting, analysis, and decision-making. Common types of ledgers include general ledgers, subsidiary ledgers, and specialized ledgers for specific purposes such as accounts receivable, accounts payable, or fixed assets. Ledgers facilitate the preparation of financial statements, trial balances, and reconciliation processes, ensuring the accuracy and integrity of financial data. With the advent of computerized accounting systems, ledgers have transitioned from manual paper-based records to electronic databases or software platforms, offering enhanced efficiency, security, and accessibility for managing financial information.