All transactions must be posted to a ledger account in financial terms.

A Ledger account is a financial book (or record) for collecting historical transaction data from a journal and organizing entries by account.

Ledger account is summarized in sections, for example:

• Income Ledgers.
• Expense Ledgers.
• Current and Fix Asset Ledgers.
• Liabilities Ledgers.
• Sundry Ledgers.
• Capital and Long-term ledgers.