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Purchase Ledger
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.[citation needed]
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.[citation needed]
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.
Cambridge (/ˈkeɪmbrɪdʒ/[2] KAYM-brij) is a university city and the county town of Cambridgeshire, England, on the River Cam approximately 55 miles (89 km) north of London. At the United Kingdom Census 2011, the population of the Cambridge built-up area (which is larger than the remit of Cambridge City Council) was 158,434 including 29,327 students.[3] Cambridge became an important trading centre during the Roman and Viking ages, and there is archaeological evidence of settlement in the area as early as the Bronze Age. The first town charters were granted in the 12th century, although modern city status was not officially conferred until 1951.
The University of Cambridge was founded in 1209.[4] The buildings of the university include King's College Chapel, Cavendish Laboratory, and the Cambridge University Library, one of the largest legal deposit libraries in the world. The city's skyline is dominated by several college buildings, along with the spire of the Our Lady and the English Martyrs Church, and the chimney of Addenbrooke's Hospital. Anglia Ruskin University, which evolved from the Cambridge School of Art and the Cambridgeshire College of Arts and Technology, also has its main campus in the city.
Cambridge is at the heart of the high-technology Silicon Fen with industries such as software and bioscience and many start-up companies born out of the university. Over 40 per cent of the workforce have a higher education qualification, more than twice the national average. The Cambridge Biomedical Campus, one of the largest biomedical research clusters in the world, is soon to house premises of AstraZeneca, a hotel, and the relocated Royal Papworth Hospital.[5]
The first game of association football took place at Parker's Piece. The Strawberry Fair music and arts festival and Midsummer Fair are held on Midsummer Common, and the annual Cambridge Beer Festival takes place on Jesus Green. The city is adjacent to the M11 and A14 roads. Cambridge station is less than an hour from London King's Cross railway station.
