What is a Ledger, and importantly for landlords, what does a Landlord’s Ledger need to show? A ledger shows debits and credits to an account. It shows the charges/amounts owed and the payments made.
A Landlord should keep a ledger for a variety of reasons. First, it is basic bookkeeping to help you determine what is owed and what has been paid. (You may use it for tax purposes.) If a Tenant wants to know what balance they owe, a ledger shows this information. Additionally, if you are filing an eviction action, you are required to provide the court with a ledger showing the transactions for the last six months.
The six month ledger is used in court to show that you applied all payments received to what is owed. It lets the Judge see the total due and type of charges at a glance. It clarifies exactly what you are charging the tenant and why, and shows what the Tenant has or has not paid.
When creating a ledger, you should break out each charge individually. Don’t list rent and late fees and utilities as a single charge. Break them into individual charges and show the date each is added to the Tenant’s account. For example, rent is due on the first of the month and should be listed as due on the first of the month on the ledger. Late fees may begin on the 5th of the month and should be charged to the Tenant on the 5th of the month. Daily late fees should be added daily on the ledger (or in weekly groups to help simplify and shorten a ledger if applicable.) Payments should show the date they were received and applied and should have a memo that shows how the payment was made. Is there a check number, money order number or other reference number for an electronic payment? If so, note that on the memo section of the ledger.
While the Security Deposit may show on the ledger, and if not paid, may show as due, if it is properly named on the ledger, it can be distinguished from the other charges.
A ledger clearly outlines what is owed by the Tenant, the purpose and type of charges to the Tenant, and what the Tenant has paid. It should be easy to read and decipher at a glance.
Sample Ledger Facts:
Monthly Rent $1025 (Daily Rate $34.17)
Utilities are Sub metered and billed monthly
Late Fees $50 on the 5th and $5 per day thereafter
On this ledger not charging late fees for utilities or small balance due
$50 Notice Fee Provided for in Lease
Ledger for 123 Main Street
Tenant John Doe
| DATE | DESCRIPTION | CHARGE | PAYMENT | BALANCE |
| 2/1/26 | Security Deposit | 1025 | 1025 | |
| 2/3/2026 | Payment from tenant applied to deposit then rent. Check 4124 | 1500 | -475 | |
| 2/15/26 | Pro-Rated Rent February 14 days | 478.33 | 3.33 | |
| 3/1/2026 | March Rent | 1025 | 1028.33 | |
| 3/1/2026 | Utilities | 56.24 | 1084.57 | |
| 3/2/26 | Tenant Payment Money Order #488298909 | 1100 | -15.43 | |
| 4/1/26 | April Rent | 1025 | 1009.57 | |
| 4/5/26 | Late Fees | 50 | 1059.57 | |
| 4/6/25 | Utilities | 65.24 | 1124.81 | |
| 4/7/26 | Late Fees 4/6 and 4/7 | 10 | 1134.81 | |
| 4/8/26 | Tenant Payment Check 4824 | 1134.81 | 0 | |
| 4/15/26 | Check NSF 4824 | 1134.81 | 1134.81 | |
| 4/15/26 | NSF Fee | 50 | 1184.81 | |
| 4/15/26 | Late Fees 4/8-4/15 | 40 | 1224.81 | |
| 4/15/26 | Notice Fee | 50 | 1274.81 |