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.
Great Yarmouth, often called Yarmouth, is a seaside resort and minster town in Norfolk, England, straddling the River Yare, some 20 miles (30 km) east of Norwich. A population of 38,693 in the 2011 Census made it Norfolk's third most populous place. Its fishing industry, mainly for herring, fell steeply after the mid-20th century and has all but vanished. North Sea oil from the 1960s brought an oil-rig supply industry that now services offshore natural gas rigs. More recent offshore wind power and other renewable energy have created further support services. Yarmouth has been a seaside resort since 1760 and a gateway from the Norfolk Broads to the North Sea. Tourism was boosted when a railway opened in 1844, which gave visitors easier, cheaper access and triggered some settlement. Wellington Pier opened in 1854 and Britannia Pier in 1858. Through the 20th century, Yarmouth was a booming resort, with a promenade, pubs, trams, fish-and-chip shops and theatres, and the Pleasure Beach, the Sea Life Centre, the Hippodrome Circus and the Time and Tide Museum, and a surviving Victorian seaside Winter Garden in cast iron and glass.