A record book is a type of bookkeeping system used to track financial transactions. It is also known as a LOG or LEDGER. A LOG is a short form of the word 'LOGBOOK' and is typically used to refer to a book that records events, activities, or observations over time. A LEDGER is a more comprehensive bookkeeping system that records all financial transactions. Both logs and ledgers are important tools for tracking financial information and can be used to create financial statements.