What is a ledger in accounting?

ledger in accounting is a complete record of the financial transactions of a business arranged in the groups of accounts. There is a ledger page or section for each account – Cash, Sales, Rent Expense. Journals are used to post transactions to the ledger with debits and credits. An essential feature which assists in summarizing the company’s financial activity, is the creation of financial statements including the balance sheet and the income statement. It is a core part of the accounting cycle.