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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.

​Warwick (/ˈwɒrɪk/ WOR-ik) is a market town and county town of Warwickshire, England. It lies near the River Avon, 11 miles (18 km) south of Coventry and west of Leamington Spa and Whitnash. Its population was 31,345 in 2011. Signs of Neolithic activity precede unbroken habitation to the 6th century AD. It was a Saxon burh in the 9th century; Warwick Castle was built during the Norman conquest of England. Warwick School claims to be the country's oldest boys' school. The earldom of Warwick, created in 1088, controlled the town and built its walls, of which Eastgate and Westgate survive. The castle became a fortress, then a mansion. The Great Fire of Warwick in 1694 destroyed much of the town. Warwick missed industrialisation, but the population has grown almost sixfold since 1801.

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