User:Jwcpa/sandbox

The ledger is a permanent summary of all amounts entered in supporting journals which list individual transactions by date. Every transaction flows from a journal to one or more ledgers. A company's financial statements are generated from summary totals in the ledgers.[2]

Ledgers include:

Sales ledger, records accounts receivable. This ledger consists of the financial transactions made by customers to the company. Purchase ledger records money spent for purchasing by the company. General ledger representing the five main[citation needed] main sections of general ledger account types: assets, liabilities, income, expenses, and Capital. Distributed ledger, sometimes called a shared ledger, is a consensus of replicated, shared, and synchronized digital data geographically spread across multiple sites, countries, and/or institutions.[3] For every debit recorded in a ledger, there must be a corresponding credit so that the debits equal the credits in the grand totals.