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How to make ledger?

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How to make ledger?

Posted by Madhu Modi 6 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Yogita Ingle 6 years, 3 months ago

The Ledger is the main or Principal book of accounts in which all the business transactions would ultimately find thier place under various accounts in a duly classified form.

By this classification / collective effect we are able to know the following –

How much amount is due from each customer and how much amount the firm has to pay to each supplier/ creditor.
The amount of Purchase and Sales during a particular period.
Amount paid or received on account of various items.
Ultmate position of Assets and Capital.
For the preparation of Trial Balance which helps in ascertaining the Arithmatic Accuracy of the Accounts.

Ledger is also called the Principal Book of Accounts

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