To get the information easily and to know the business result, are the main objects of the accounts. With this view point, ledger is known as a second important step in the process of accounts. Initially transaction is recorded in the journal, therefore journal is known as Primary books of accounts. While from the journal entries are posted in the ledger therefore ledger is known as the Principal or Main book of accounts. Out of all the books of accounts, ledger is known as the very important book, because from this book, transactions related to the business can be easily understood.

In short, ledger is a book in which systematic and separate summary of all the types of transactions is prepared. In this way, from the ledger, information related to the transactions of all the accounts is easily avialable. And from that, the financial position of the business and result of the business can be clearly known. Thus, with the view point of utilities and importance, ledger is the principal book of accounts or ledger is the King of Books.