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In general: no.
It works, but interferes with troubleshooting and running side-by-side versions: It works fine but it makes support harder :-)
To undo installation in /usr/local, delete /usr/local/share/perl/5.XX.X/LedgerSMB and move the .pl files that belong to LedgerSMB and LedgerSMB.pm in /usr/local/share/perl/5.XX.XX/ another directory.
Links:
[1] http://ledgersmb.org/release/13
[2] http://ledgersmb.org/release/14
[3] http://ledgersmb.org/release/20
[4] http://ledgersmb.org/faq-categories/installation