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​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.

​Market Rasen is a town and civil parish within the West Lindsey district of Lincolnshire, England. The River Rase runs through it east to west, approximately 13 miles (21 km) north-east from Lincoln, 18 miles (29 km) east from Gainsborough and 16 miles (26 km) south-west from Grimsby. It lies on the main road between Lincoln and Grimsby, the A46 and is on National Cycle Route 1 (part of EuroVelo 12) of the National Cycle Network.[2]

In 2001 the town had a population of 3,200.[3] In the 2011 census he population of the civil parish was 3,904.[4]

The town is known for Market Rasen Racecourse and being close to the epicentre of a 2008 earthquake.

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