The ledger is the book which contains the final or complete records of all dealings, either with an individual or with respect to a specific class of transactions--as expenditures for a certain purpose, or receipts of a given character, or sales of a given kind of goods. A transcript of the ledger accounts exhibits the progress and standing of the business. Like other books, ledgers are now made with special forms of ruling, depending on the purpose for which they are to be used. The old style or common form of ledger ruling is shown (p. 35). =20. Invoice or Bill.= An Invoice or Bill is an itemized statement or record of goods sold by one person to another. The invoice or bill is used in every line of business. A conventional form of invoice is shown (p. 5). RECORDING TRANSACTIONS =21.= The records of transactions in the journal which show what accounts are debited and what accounts are credited are called _journal entries_. The act of making these entries is known as _journalizing_. It was formerly the custom to journalize each individual transaction from the day book, but in modern bookkeeping the journal is used only for adjusting and special entries. =22. Posting.= When the record of a transaction is transferred to the ledger from a book of Class (_b_), it is said to be _posted_. The act of making the transfer is called _posting_. The original method was to itemize all transactions in the ledger, but the present custom is to post the totals only. =23.= When a record is transferred from one book of Class (_b_) to another, or posted to the ledger, the page number of the book to or from which it is transferred or posted is entered in the column known as the _folio column_. This is done that the transaction may be traced from one book to another. The presence of the page number also serves as a check to show that the item has been posted. _Example_--An item is to be posted from page 1 of the sales book to page 10 of the ledger. In the folio column of the ledger will be entered "S 1" indicating that the item will be found on page 1 of the sales book. In the folio column of the sales book will be entered "10" indicating that the item has been posted to page 10 of the ledger. =24. Ledger Index.= An index to the ledger is necessary to enable us to find the accounts. In small ledgers the index is placed in the front of the book itself, while for large ledgers a separate index book is used. There is a distinct advantage in this, as the index book can be kept open on the desk while posting is being done, and the names found much quicker than when it is necessary to turn the leaves of the ledger to find the index. When an account is opened in the ledger, the name should be written in the index, followed by the page number. The names in the index are arranged in alphabetical order, each name being written under the letter of the alphabet corresponding to the first letter in the name. For example: