Editing Bookkeeping (section)

==Ledgers==
A ''[[ledger]]'' is a record of [[Account (accountancy)|accounts]]. The ledger is a permanent summary of all amounts entered in supporting Journals which list individual transactions by date. These accounts are recorded separately, showing their beginning/ending [[Balance (accounting)|balance]]. A journal lists [[financial transactions]] in chronological order, without showing their balance but showing how much is going to be entered in each account. A ledger takes each financial transaction from the journal and records it into the corresponding accounts. The ledger also determines the balance of every account, which is transferred into the [[balance sheet]] or the [[income  statement]]. There are three different kinds of ledgers that deal with book-keeping:
*Sales ledger, which deals mostly with the accounts receivable account. This ledger consists of the records of the financial transactions made by customers to the business.
*Purchase ledger is the record of the company's purchasing transactions; it goes hand in hand with the Accounts Payable account.
*General ledger, representing the original five, main accounts: [[asset]]s, [[Liability (financial accounting)|liabilities]], [[Equity (finance)|equity]], [[income]], and [[expense]]s.