A ledger is a place where transactions are recorded. Banks maintain a ledger which includes a full history of all the deposits and withdrawals on various accounts and ends in a final or current balance on the account. Many people with bank accounts also maintain their own ledger of transactions in their checkbook for ease of reference and accountability. Informal ledgers often exist between friends or coworkers as a way to keep track of who owes who what (think “I’ll get your coffee today, you get mine tomorrow”).