Question

Give one important use of ledger

Answer 1

Explanation:

A general ledger represents the record-keeping system for a company's financial data with debit and credit account records validated by a trial balance. The general ledger provides a record of each financial transaction that takes place during the life of an operating company.

Answer 2

The ledger is important because it helps you monitor and control a business' financial operations. The ledger stores and organizes the information needed to prepare a company's financial statements. It also provides the tools for analysis of accounts and transactions.