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Where transactions are entered on the left, the right and round the edge (6)

Ross

I believe the answer is:

ledger

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'where transactions are entered on' is the definition.
Although both the answer and definition are singular nouns, I cannot understand how one could define the other.

'left the right and round the edge' is the wordplay.
'left' becomes 'L' (common abbreviation).
'the right' becomes 'r' (common abbreviation).
'and round' means one lot of letters goes inside another (some letters go round others).
'l'+'r'='lr'
'lr' placed around 'edge' is 'LEDGER'.

'the' acts as a link.

Can you help me to learn more?

(Other definitions for ledger that I've seen before include "Book for keeping financial accounts" , "Old accounts book" , "Account book" , "Business record book" , "Accounts journal" .)

I've seen this clue in the Sydney Morning Herald.
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