Abought ledgeris a system inaccountingby which a business records and monitors itscreditors. The purchase ledger contains the individual accounts of suppliers from whom the business has made purchases oncredit. Information oninvoicesandcredit notesreceived, and payments made, are recorded in the supplier's account using thedebits and creditssystem, with thebalanceof each account at a given moment representing the amount currently owed to that supplier.
Historically, the purchase ledger was maintained in book form, hence the termledger, but in modern practice it is much more likely to be held on computer usingaccountancy softwareor aspreadsheet. The concept of Double-entry Bookkeeping is that debits balance the credits at all times. For convenience the main Trial Balance lists some accounts containing many entries as simply a single control figure. There is then a separate physical Ledger for the summarised area, which could conveniently be managed on its own, often at physically separate locations from the main ledger book. The Purchase Ledger is a common example of this.
The purchase ledger will ordinarily be an overall credit (liability) balance, unless credit notes or over-payments exceed the credit balance. However within itself, it is usual to show all invoices as positive figures, and payments as negative entries, as this minimises the number of negative entries to make/read.
Belper is a town and civil parish in the local government district of Amber Valley in Derbyshire, England, located about 7 miles (11 km) north of Derby on the River Derwent. As well as Belper itself, the parish also includes the village of Milford and the hamlets of Bargate, Blackbrook and Makeney. As of the 2011 Census, the parish had a population of 21,823. Originally a centre for the nail-making industry since Medieval times, Belper expanded during the early Industrial Revolution to become one of the first mill towns with the establishment of several textile mills; as such, it forms part of the Derwent Valley Mills World Heritage Site.