Question

importance of ledger approach

Answer 1

Hey mate!

I am here with your answer!

Importance or Advantages of Ledger Accounts. Transactions that may be related to any particular individual, items or income are actually organized into a concerned account and can later on glance at one place. It is important to maintain ledger in every accounting system.

The ledger provides a complete record of financial transactions over the life of the company. The ledger holds account information that is needed to prepare financial statements and includes accounts for assets, liabilities, owners' equity, revenues and expenses.

Hope this will help you!