Ledger

A ledger is a book used to maintain adjustment or elimination entries in a separate book from the General Ledger posting book, to allow for different financial reporting for the same company, accounting unit, and account.

A ledger is essentially used to provide parallel books for a General Ledger company. You can associate a ledger with one or more General Ledger companies, and a General Ledger company can be associated with multiple ledgers.

How does a Ledger Work?

A ledger is part of a ledger group that is attached to an account in the chart of accounts used by both the General Ledger company and the ledger company. When you specify a transaction from the Multi-Book Ledger application for a ledger and company, the journal entry is posted to the ledger. The ledger contains only Multi-Book Ledger journal entries. It does not contain General Ledger entries. However, ledger reports pull all the Multi-Book Ledger entries posted to the ledger for the ledger company period reported on, and all the General Ledger journal entries posted to the General Ledger company for the corresponding General Ledger period. Thus you can generate a complete set of financial statements for each ledger used by a company, including the General Ledger.