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.
Leicester (About this soundlisten) LEH-ster) is a city and unitary authority area in the East Midlands of England, and the county town of Leicestershire. The city lies on the River Soar and close to the eastern end of the National Forest. It is to the north-east of Birmingham and Coventry, south of Nottingham, and west of Peterborough.
The 2016 mid year estimate of the population of the City of Leicester unitary authority was 348,300, an increase of approximately 18,500 (Increase 5.6%) from the 2011 census figure of 329,839, making it the most populous municipality in the East Midlands region. The associated urban area is also the 11th most populous in England and the 13th most populous in the United Kingdom.
Leicester is at the intersection of two major railway lines—the north–south Midland Main Line and the east/west Birmingham to London Stansted CrossCountry line; as well as the confluence of the M1/M69 motorways and the A6/A46 trunk routes. Leicester is the home to football club Leicester City and rugby club Leicester Tigers.