Materials/Store Ledger Card Definition
Materials/Store Ledger Card Definition:
Materials or store ledger card provides a continuous record of materials received, issued and balance at any time both in quantity and value.
In other words, This card shows the detailed information regarding receipts, issues and the balance in hand for each kind of materials at any time. The receiving report and material requisition or the bill of materials serves as the original source of information for making entries on the card.
Other Related Accounting Articles:
- Definition and Explanation of Ledger
- First In First Out (FIFO) – Materials and Inventory Costing Method
- Perpetual Inventory System Definition
- Materials Requisition Form Definition
- Material Requirements Planning (MRP) Definition
- The Bill of Exchange
- Difference between Bill of Exchange and Cheque
- Bill of materials Definition
- Definition and Explanation of Bill of Exchange
- Direct Material Price Variance
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