In the Journal, every transaction is dealt with individually. Therefore, it is not doable to be familiar with at a glance, the net result of many transactions. So, in order to determine the net result of all the transactions connecting to a exacting account are collected at one place in the Ledger. So, it is a book containing accounts to which debits and credits are posted from books of original entry
A Ledger is a book which includes all the accounts whether individual, real or nominal, which is primary entered in journal or particular reason subsidiary books. In computerized systems, it consists of interlinked digital files, but follows the same accounting principles as the manual system.
According to L.C. Cropper, ‘the book which contains a classified and permanent record of all the transactions of a business is called the Ledger’.
The ledger that is usually used in a preponderance of business apprehension is a bound note book. This can be conserved for a long time. Its pages are accordingly numbered. Each account in the ledger is opened preferably on a detach page. If one page is finished, the account will be continued in the next or some other page. But in bigger concerns, it is not realistic to keep the ledger as a bound note book, Loose-leaf ledger now takes the place of a bound note book.