What is a partner ledger?

A partner record is a relatively simple document, often kept by partnerships, which details the ownership of the business. They are typically a chart-like registry, simply listing each partner and indicating what percentage ownership that partner has in the company, how much capital that partner contributed, etc. The ledger also keeps track of any changes in ownership, indicating when partners leave the partnership and what happens to their interest, or when partners join the partnership and how the ownership interests are reassessed.