diff --git a/conservancy_beancount/reports/ledger.py b/conservancy_beancount/reports/ledger.py
index afdf943..a238e4d 100644
--- a/conservancy_beancount/reports/ledger.py
+++ b/conservancy_beancount/reports/ledger.py
@@ -422,8 +422,7 @@ it will issue a warning.
         metavar='PATH',
         type=Path,
         help="""Write the report to this file, or stdout when PATH is `-`.
-The default is stdout for the balance and outgoing reports, and a generated
-filename for other reports.
+The default is `LedgerReport_<StartDate>_<StopDate>.ods`.
 """)
     cliutil.add_loglevel_argument(parser)
     parser.add_argument(