diff --git a/cronjobs/ledger.php b/cronjobs/ledger.php
new file mode 100644
index 00000000..da62f08e
--- /dev/null
+++ b/cronjobs/ledger.php
@@ -0,0 +1,25 @@
+<?php
+
+/*
+
+Copyright:: 2013, Sebastian Grewe
+
+Licensed under the Apache License, Version 2.0 (the "License");
+you may not use this file except in compliance with the License.
+You may obtain a copy of the License at
+
+http://www.apache.org/licenses/LICENSE-2.0
+
+Unless required by applicable law or agreed to in writing, software
+distributed under the License is distributed on an "AS IS" BASIS,
+WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+See the License for the specific language governing permissions and
+limitations under the License.
+
+ */
+
+// Include all settings and classes
+require_once('shared.inc.php');
+
+// UPDATE ledger AS l INNER JOIN blocks as b ON l.assocBlock = b.height SET l.confirmed = 1 WHERE b.confirmations > 120 AND l.confirmed = 0;
+$ledger->confirmTransactions();
diff --git a/public/include/autoloader.inc.php b/public/include/autoloader.inc.php
index 015d5590..6bc52a45 100644
--- a/public/include/autoloader.inc.php
+++ b/public/include/autoloader.inc.php
@@ -9,4 +9,5 @@ require_once(CLASS_DIR . '/user.class.php');
 require_once(CLASS_DIR . '/block.class.php');
 require_once(CLASS_DIR . '/share.class.php');
 require_once(CLASS_DIR . '/statistics.class.php');
+require_once(CLASS_DIR . '/ledger.class.php');
 require_once(CLASS_DIR . '/settings.class.php');
diff --git a/public/include/classes/ledger.class.php b/public/include/classes/ledger.class.php
new file mode 100644
index 00000000..65bc8f46
--- /dev/null
+++ b/public/include/classes/ledger.class.php
@@ -0,0 +1,57 @@
+<?php
+
+// Make sure we are called from index.php
+if (!defined('SECURITY'))
+  die('Hacking attempt');
+
+class Ledger {
+  private $sError = '';
+  private $table = 'blocks';
+  // This defines each block
+  public $height, $blockhash, $confirmations, $difficulty, $time;
+
+  public function __construct($debug, $mysqli, $salt) {
+    $this->debug = $debug;
+    $this->mysqli = $mysqli;
+    $this->debug->append("Instantiated Ledger class", 2);
+  }
+
+  // get and set methods
+  private function setErrorMessage($msg) {
+    $this->sError = $msg;
+  }
+  public function getError() {
+    return $this->sError;
+  }
+
+  public function confirmTransactions() {
+    // Confirm all outstanding transactions
+    $stmt = $this->mysqli->prepare("UPDATE
+                              ledger AS l
+                            INNER JOIN blocks as b ON l.assocBlock = b.height
+                            SET l.confirmed = 1
+                            WHERE b.confirmations > 120
+                            AND l.confirmed = 0");
+    if ($this->checkStmt($stmt)) {
+      if (!$stmt->execute()) {
+        $this->debug->append("Failed to execute statement: " . $stmt->error);
+        $stmt->close();
+        return false;
+      }
+      $stmt->close();
+      return true;
+    }
+    return false;
+  }
+
+  private function checkStmt($bState) {
+    if ($bState ===! true) {
+      $this->debug->append("Failed to prepare statement: " . $this->mysqli->error);
+      $this->setErrorMessage('Internal application Error');
+      return false;
+    }
+    return true;
+  }
+}
+
+$ledger = new Ledger($debug, $mysqli, SALT);