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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.
Dronfield is a town in North East Derbyshire, England, which includes Dronfield Woodhouse and Coal Aston. It lies in the valley of the River Drone between Chesterfield and Sheffield. The Peak District National Park is three miles (4.8 km) to the west. The name means open land infested with drones (male bees).
The town existed before the 1086 Domesday Book, and has a 13th-century parish church. In 1662, Charles II granted the town a market, although this later ceased. The industrial history of the town includes coal mining, the wool trade, the production of soap and steel, and engineering. Today a range of manufacturing firms still operate in the town.
Dronfield's population increased dramatically in the post-war years from 6,500 in 1945 to its current size of just over 21,000.[1]
The football ground to the north of the town is currently the home of Sheffield F.C., the world's oldest football club.
