> As this been done, and if so, how feasible is it to maintain?

Yes, definitely!  I've been using ledger to manage the books for my wife's small
business this past year.  Make sure you take the time to read Ledger's manual
(https://www.ledger-cli.org/docs.html), and also browse 
https://plaintextaccounting.org/

> Is ledger a good choice for the tasks mentioned above, or is hledger (or 
> another project) better suited for this?

Yes to both.  I've just been using ledger myself since it suits my needs (I 
just dump
out a csv file at the end of the year and send that to our tax preparer) and 
haven't
actually used hledger at all, but my understanding is that hledger parses 
ledger's
file format without issue.  So you can use both, freely switching back-and-forth
between them as needed.  (That's the beauty of PTA, right?  ;))


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