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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.
East Anglia in the East of England comprises the four counties of Norfolk, Suffolk, Cambridgeshire and Essex and is close to London. It is well-connected with Europe and the rest of the world through London Stansted Airport, the International Gateway to the East of England. There is also Norwich International Airport and London Southend Airport. The region has an excellent rail service with Greater Anglia, including the Stansted Express.
A recent report shows that East Anglia is home to three out of five of the fastest-growing city economies in the UK. Cambridge topped the list, with Ipswich second and Norwich fifth nationally according to The UK Powerhouse study.
The report reveals that Ipswich had the second-highest rate recorded of GVA growth rate (a measure of the value of goods and services produced) in the UK in the first three months of the year (2.5%), while Norwich enjoyed a growth rate of 2.4%.
Looking forward, the report also predicts the three locations will maintain their top 10 positions by the final quarter of 2028.
