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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.

​Peterborough (/ˈpiːtərbərə, -ˌbʌrə/ (About this soundlisten)) is a cathedral city in Cambridgeshire, England, with a population of 202,110 in 2017.[5] Historically part of Northamptonshire, it is 76 miles (122 km) north of London, on the River Nene which flows into the North Sea 30 miles (48 km) to the north-east. The railway station is an important stop on the East Coast Main Line between London and Edinburgh. Peterborough is also the largest city and borough in Cambridgeshire and the East Anglia area of England.

The local topography is flat, and in some places the land lies below sea level, for example in parts of the Fens to the east of Peterborough. Human settlement in the area began before the Bronze Age, as can be seen at the Flag Fen archaeological site to the east of the current city centre, also with evidence of Roman occupation. The Anglo-Saxon period saw the establishment of a monastery, Medeshamstede, which later became Peterborough Cathedral.

The population grew rapidly after the railways arrived in the 19th century, and Peterborough became an industrial centre, particularly known for its brick manufacture. After the Second World War, growth was limited until designation as a New Town in the 1960s. Housing and population are expanding and a £1 billion regeneration of the city centre and immediately surrounding area is under way. Industrial employment has fallen since then, a significant proportion of new jobs being in financial services and distribution.