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.
Kidderminster is a large market and historic minster town and civil parish in Worcestershire, England, 17 miles (27 km) south-west of Birmingham and 15 miles (24 km) north of Worcester. Located north of the River Stour and east of the River Severn, in the 2011 census, it had a population of 55,530. The town is twinned with Husum, Germany.
Situated in the far north of Worcestershire (and with its northern suburbs only 3 and 4 miles from the Staffordshire and Shropshire borders respectively), the town is the main administration centre for the wider Wyre Forest District, which includes the towns of Stourport-on-Severn and Bewdley, along with other outlying settlements.