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The ledger is like a book that records journal accounts and previous years' closing balance entry and Those posts will be based on its title and it is through this information that the closing balances for the financial year will be calculated.
for convenience, facility, time save, easy access etc...
Let me give you an example Now suppose you buy a new house You have brought all the necessary items for that house in a truck All the items in that vehicle are yours but every item is placed in every place of that house for example clothes in the bedroom, furniture in every place according to your need, why all of your items are kept taken separately, the answer is Convenience. Similarly, there will be almost over a hundred transactions in the company in which every transaction is recorded in each account because of the Convenience.
Let me give another example. Does the company's management department want to know about the purchase details in the company? Now the accountants have to send those details to the management department.
Perhaps if the accounting department does not maintain the purchase book it will have to search for hundreds of transactions and collect the purchase details so that the company can easily send the purchase details to the management department if the purchase account is maintained.
If you understand how this one transaction is recorded from the journal account to the ledger you can easily record most of the transactions in the journal account in the ledger.
Almas sells goods worth Rs 180 to Nemiex and receives Rs 100 from him for this,
Date | Particular | Debit | Credit |
---|---|---|---|
- | |||
Cash A/C D | 100 | - | |
Nemiex A/C D | 80 | - | |
To sales A/C C | - | 180 |
Debit | - | Crdit | |||
Date | particular | Amount | Date | particular | Amount |
---|---|---|---|---|---|
- | |||||
To Sales | 100 | By Blanace C/D | 100 | ||
- | |||||
100 | 100 | ||||
To Blanace B/D | 100 |
Debit | - | Crdit | |||
Date | particular | Amount | Date | particular | Amount |
---|---|---|---|---|---|
- | |||||
To Sales | 80 | By Blanace C/D | 80 | ||
- | |||||
80 | 80 | ||||
To Blanace B/D | 80 |
Debit | - | Crdit | |||
Date | particular | Amount | Date | particular | Amount |
---|---|---|---|---|---|
- | |||||
To Blanace C/D | 180 | By Cash | 100 | ||
- | By Rajsing | 80 | |||
- | |||||
180 | 180 | ||||
by Blanace B/D | 180 |
Date | Particular | Debit | Credit | |
---|---|---|---|---|
- | ||||
Cash | 100 | - | ||
Debitors | 80 | - | ||
Sales | - | 180 |
""ledger important ""the transection note and journal preparation in the year completeding it is requirement with that year but the ledger is the primary document on next year.
See the example to know more about the ledger: try now and If you are in doubt about any transaction, please enter the comments below.
topics
What Is A Subsidiary Books | Type Of Subsidiary Books
Purchase Books And Purchase Return Book By Subsidiary Books
Sales And Sales Return Books By Subsidiary Books
What is a cash book? And the description of double column cash book and triple column cash book
How To Prepare The Trial Balance And Format Explain
How To Prepare The Transaction Note Based On Documents