List of General Ledger Accounts and Content Accounting Ledger After the journals are complete for the period, the account summaries are posted to the ledger. In a sense, a ledger is a record or summary of the account records.Ī ledger is often referred to as the book of second entry because business events are first recorded in journals. For instance, the ledger folder could have a cash notebook, accounts receivable notebook, and notes receivable notebooks in it. Remember our notebook analogy in the account explanation? You can think of an account as a notebook filled with business transactions from a specific account, so the cash notebook would have records of all the business transactions involving cash.īy this same analogy, a ledger could be considered a folder that contains all of the notebooks or accounts in the chart of accounts. In other words, a ledger is a record that details all business accounts and account activity during a period. A general ledger or accounting ledger is a record or document that contains account summaries for accounts used by a company.