Overview: All of a company's accounts are contained in a book called a general ledger, or simply a ledger.
The ledger is just a group of actual accounts.
- Balance sheet accounts are classified as assets, liabilities, and owners equity.
- Income statement accounts are classified as revenues or expenses.
- Each account is customarily listed on a separate page in the general ledger in the order in which they appear in the financial statements.
- A listing of all the accounts, with the respective account numbers, is called a chart of accounts. Each account has a separate page in the manual general ledger.
Special thanks to the Megger CPAs of South Denver for the answer.