A Debit and Credit Book, also known as a LEDGER, is a bookkeeping tool used to record financial transactions. It is a record of all the debits and credits that have taken place in a business or individual's financial accounts. The LEDGER is divided into two columns, one for debits and one for credits. Each transaction is recorded in the appropriate column, with the total of each column being calculated at the end of the period. The LEDGER is an important tool for tracking and managing finances, as it provides an accurate record of all financial activity.