a re-arrangement of the journal entries grouped by account (and sorted in date order within each account)

This ledger is affected by all transactions posted in all ledgers. It is the core of the accounting process. The balances on all of the nominal accounts form the Trial Balance and therefore the Profit and Loss and the Balance Sheet. Click here to go back to the top of the page

A complete list of all the transactions recorded in all the Account Codes. This is the central register for Double Entry Book-Keeping systems (e.g. as used by most Accounting Software). Also known as the General Ledger.

is the account book showing expenditure on nominal accounts i.e. named business accounts such as postage, printing, etc.

A ledger which holds all the nominal accounts of a business. Where the business uses a subsidiary ledger like the sales ledger to hold customer details, the nominal ledger will usually include a control account to show the total balance of the subsidiary ledger (a control account can be termed 'nominal' because it doesn't relate to a specific person).