As we all know about the ledger it is an accounting book in the double entry system that is used to record and maintain transactions for a business. There are different types of ledgers one of them is subsidiary ledger that is used to
Ledger is the second step in recording a transaction after journal. Ledger has 2 sides that are debit and credit. Ledger has debit account or credit account it depends on the ending balance.
A purchase ledger can be defined as a sub ledger in business accounting that is used to record all the purchases made by the business in that accounting period. The entire amount that a business is spending and transacting with its supplier is aggregated
A sales ledger is an accounting document that displays a complete itemization of all the sales made by the business along with presentation of these sales in the respective date sequence. Sales ledger also addresses credit issues such as product returns by the customers
Ledger: Learning Objectives: Define and explain the term ledger. What are the main advantages of ledger? What is the difference between ledger and journal? Explain the method of posting. What are the different methods of preparing a trial balance? Why a trial balance is
Difference Between Ledger and Journal: Learning Objectives: What is the difference between ledger and journal? The journal and the ledger are the most important books of the double entry system of accounting. Following are the points of difference between these two types of books:
Advantages of Ledger Learning Objectives: What are the main advantages of ledger? The following are the advantages derived from ledger: It is the ledger through which successful application of double entry system of bookkeeping is ensured. Each and every transaction is divided into two
Definition and Explanation of Ledger: Learning Objectives: Define and explain the term “ledger” What are the features or characteristics of ledger? When all the transactions of a given period have been journalised, the next thing is to classify them according to the accounts affected.
Form of Ledger and Method of Posting: Form of Ledger: One account usually occupies one page in the ledger. But if the account is big one it may extend to two or more pages. The pages of the ledger are vertically divided into two
Example of Ledger and Preparing Ledger Accounts: Learning Objectives: How are ledger accounts prepared? Journalise the following transactions and post them to the ledger accounts concerned: 1991 Jan. 1 Purchased goods for cash 2,000 Jan. 3 Sold goods to Karim 500 Jan. 10 Received