Ledger Narration Meaning: Types of Ledger Entries Explained

Ledger Narration

6 min read•Updated on 17th Aug, 2026•by Angel One

A ledger is a collection of all the financial accounts of a company, establishment, individual, or other entities. It is a record of all financial transactions and keeps note of all inflow and outflow of cash. When an individual starts trading in the stock market, a ledger of their payments received is maintained.

This ledger lists on a running basis any funds received upon the sale of securities, trading charges incurred, payments made for shares bought, and other transactions. Each time a transaction is recorded, it is accompanied by a description - ledger narration. Ledger narration is a short snippet of text that describes each transaction so that investors can understand the background of the same.

Ledge Narration Categories

Common ledger entries can be categorised as under.

1. Depository Participant-related

Ledger entries that are largely concerned with charges collected by an investor's depository participant (DP) are accompanied by these narrations. These charges could be levied on the sale or transfer of a security, or include account maintenance charges (AMC), dematerialisation and rematerialisation charges, etc.

Entry narration	What it means
Charges for On-MKT Transaction for BOID: 1234567891234567 Dt: Jan 01 2021	This charge is levied whenever you sell a holding from your Demat account
Charges for Off-MKT Transaction for BOID: 1234567891234567 Dt: Jan 01 2021	This charge is levied whenever you transfer a holding from one Demat account to another
Demat Monthly Maintenance Charges for BOID: 1234567891234567 Dt: Jan 01 2021	These are Demat account maintenance charges and are billed Quarterly
Charges for Pledge/Unpledge of Securities for BOID: 1234567891234567 Dt: Jan 01 2021	Pledging is when you use your stocks as collateral to increase your margin and, in turn, your trading potential Unpledging is when you release your stocks from collateral. This will in turn reduce your available margin Pledge / Unpledge also includes MTF, CUSPA (Client Unpaid Security Pledge Account) and LAS (Loan against Shares) These charges are levied when you raise a request for margin or avail margin trade funding Pledge charges and unpledge charges are charged separately
DP Charges for Sell Transaction from Holding Dt: Jan 01 2021	This charge is applicable when your holdings are sold from the CUSPA account Client Unpaid Securities Pledgee Account
Demat/Remat Charges	Demat (dematerialisation) is when you convert existing physical share certificates into electronic format Remat (rematerialisation) is when you convert electronically held securities into physical certificates These charges are levied if you avail of either of these services Demat charges and remat charges are charged separately

2. Pay-in and payout-related

These narrations refer to the investor's account-funding activities, including the opening balance, amount withdrawn, amount received, etc.

Entry narration	What it means
Opening Balance	This amount refers to the opening amount available in your ledger (or account) for the day
Amount Received	Funds added to your trading ledger from your bank account
Amount Withdrawal	Withdrawal of funds from your trading ledger to your bank account
JV intersegment transfer	Internal movement of funds across segments

3. Accounting-related

These describe accounting and financial adjustments. These entries include account opening and, as well as rounding-off and writing-off charges.

Entry narration	What it means
Account Opening Charges	Understand the charges: Demat account opening charges
Account Closure	Currently, we do not have account closing charges
Rounding Off	The adjustment made to bring the total to the nearest rupee (it will be done only for brokerage, AMC, DDPI, etc.)
Write Off	This refers to any transaction or balances whose value has been brought down to zero

4. Entries related to Margin Trading Facility (MTF)

Margin Trading Facility (MTF) allows an investor to buy a stock by paying just a fraction of the total transaction value. The balance amount is funded by Angel One. Ledger Narrations related to MTF will feature in the report of only those clients who have availed this facility.

Entry narration

What it means

MTF JV from Cash Segment

MTF JV from Cash Segment is related to Margin or MTM Requirement for MTF position in case Amount is in Debit. In case of Credit, it's related to Margin release towards closure / decremental in Margin or MTM Requirement.

Interest @14.99% p.a.

Interest is charged on the borrowed amount from the day the MTF trade is placed until the position is closed, either by selling or converting to delivery

5. Risk management related entries

These entries include risk management measures like Additional Surveillance Measure (ASM) and Graded Surveillance Measure (GSM).

Entry narration	What it means
ASM Margin Bill	Additional Surveillance Measure (ASM) is a part of investor protection initiatives introduced by the Securities and Exchange Board of India (SEBI). This additional levy is applicable on select securities considered to have risk concerns. Parameters such as - price variation, PE Ratio, market capitalisation, volatility, etc. are considered while shortlisting such securities. ASM Margin Bill is the levy of the Additional Margin needed to trade in these securities. Post exchange review, ASM Margin will be reversed on a quarterly basis and it may be extended further.
GSM Margin Bill	Graded Surveillance Measure (GSM) is another initiative introduced by SEBI to safeguard investor interest. GSM allows for enhanced monitoring and surveillance actions on certain identified securities. Read more on GSM. GSM Margin Bill is the levy of the Additional Margin needed to trade in these securities.
ASM Margin Bill Reversal	This refers to the reversal of any previously ASM Margin entry.
GSM Margin Bill Reversal	This refers to the reversal of any previously GSM Margin entry.

6. Settlement-related

These entries refer to various settlement-related activities and may include charges for activities like requesting contract note dispatch and participation in buyback of shares or OFS.

Entry narration	What it means
Charges for contract note dispatch 01/06/2020	In case you have requested a physical contract note, this is the charge for dispatching the same
Auction Bill	This entry will reflect in your ledger if you are short on delivery of shares sold
Funds debited towards Buyback of ABC LTD.(Settl.- 1234567 against credited by RTA in Your bank a/c)	In case you have participated in the buyback, shares will be debited from your Demat account and your bank account will be credited with the respective funds. This is done by the RTA The charges in your ledger refer to only statutory levies involved in the Buyback process
OFS Bill	This entry will reflect in your ledger if you have participated in any Offer for Sale (OFS)
Transaction Bills	This entry refers to the shares/positions traded for the day Credit: This entry covers sell trades/profit for a particular day. It will reflect the amount credited to your account. Debit: This entry covers buy trades/loss for a particular day. It will reflect the amount debited from your account. In case you have done both types of trades on the same day, the net bill amount will be posted in your account (either debit or credit)

7. Margin-related ledger entries

Interests charged on the amount outstanding and margin shortfall penalties are some of the common margin-related ledger entries.

Entry narration	What it means
Interest of MTF@ 14.99% for the Period 01/07/2026 to 02/07/2026	This refers to the interest charged in client trading ledger MTF (Margin Trading Facility)
Interest on Collateral Margin@ 12.5% for the Period 01/07/2026 to 02/07/2026	Collateral Margin is the shortfall of maintaining derivative margin of requirement of 50% clear Ledger balance/Cash collateral.
Charges on Delayed Payments@ 18.0% for the Period 01/07/2026 to 02/07/2026	Delayed Payment is charged on Broking ledger debit or overall shortfall. All charges are calculated daily and billed fortnightly or before the Quarterly fund settlement.
Margin Shortage Penalty – Jan 1, 2021	Margin shortage (or shortfall) penalty is levied when you place a trade without sufficient margin.

8. Miscellaneous

Other ledger narrations include a variety of charges, subscriptions or transactions such as,Angel One’s call and trade facility, and payments levied for legal action and arbitration activities.

Entry narration	What it means
Being Amount Transferred To A123456_Platinum_789123	Subscription Charges For Angel Platinum – Our Premium Advisory Service
Call & Trade Charges dated 01-Jan-21	These are charges for using our call & trade facility which allows you to trade over a phone call.
Square-off Charges dated 01-Jan-21	These Charges are levied if your open positions are auto squared-off by Angel One. To avoid Auto Square-Off charges, make sure to square-off your positions within the necessary timeline. Some Examples Of Auto Square-Off Scenarios: Intra-Day Square-Off Risk Square-Off Projected Risk Square-Off Ageing Debit-Based Square-Off MTF Shortfall Square-Off Margin Shortfall Square-Off MTM 80% squareoff For more details on square-off, read our Risk Management Policy
Legal or Arbitration Charges	This includes recovery or levy of any charges incurred for legal action or for arbitration activity

Conclusion

The purpose of ledger narration is to assist you, the investor, in navigating your trading activities with ease. This glossary aims to provide you with a more simplistic understanding of the common terms found in your Angel One Ledger Report.