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A General Ledger is the main ledger & all other ledgers like, Account Receivable, Account Payable Ledgers are all sub ledgers. Previously there used to be only one ledger ie the General Ledger, but as Business grew, the number of accounts too multiplied, so, the General Ledger started getting fatter, therefore the need to bring out accounts of similar nature out of General ledger & create sub-ledgers. However, there is a representative account for the subledgers in the General Ledger, which maintains only the balances of the various accounts in the Sub-Ledgers.So, by doing this the Trial Balance can always be created from the General Ledger only.
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Why are you interested in purchase ledger clerk position?
If you are asked about why you're interested in the purchase ledger clerk position, you would talk about what excites you about the position and the opportunity. You could also mention any relevant skills you have that would make you a good choice for the job.
What is retail sub sector?
Retail sub sectors are the different categories of product types, eg, clothing and footwear, DIY,
What are the components of the HANG SENG index?
The Hang Seng Index is used to record and monitor daily changes of the largest companies of the Hong Kong stock market and is the main indicator of the overall market performance in Hong Kong. There are 4 sub indices of the Hang Seng Index. They are: * Hang Seng Finance Sub-index * Hang Seng Utilities Sub-index * Hang Seng Properties Sub-index * Hang Seng Commerce & Industry Sub-index
What is the difference between assembly and sub-assembly?
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Describe division of labour as an economic sub system in sociology's?
The division of labour as an economic sub system in sociology results to specialization which leads to learning and development of new skills.
What items go directly to the general ledger without sub ledger posting?
accrued accounts
What is forward sub ledger?
A forward sub ledger is the opening balance of your subledger. A subledger is known as the individual ledgers WITHIN the general ledger. For example, The debtors SUBLEDGER is also known as the detailed Debtors Trial balance or the Accounts receivable ledger The creditors SUBLEDGER is also known as the detailed Creditors Trial balance or the Accounts payable ledger
Difference between sub-ledger and general ledger?
SUB LEDGER (Depatmental Operating Accounts)An account in the Sub Ledger has a non-zero first digit (eg. 3-3XXXX) and reflects all budget, revenue, expense and encumbrance activity for the current year. Except for a very few cases, all requisitions should be prepared using Sub Ledger accounts.GENERAL LEDGERAn account in the General Ledger has zero as its first digit (eg. 0-3XXXX) and reflects the cumulative status to date of the account. The most important information on the General Ledger account statement is the fund balance account control (3X00, where X represents the second digit of the account number). This amount is the cumulative account balance. If the amount is a credit (negative figure) there is a surplus in the account. If the amount is a debit (positive figure) there is a deficit in the account.
A sub-ledger that will get effected when the firm makes a credit purchase and the creditor bills that amount on the firm?
bills payable
What is the sub-process that takes data posted to the general ledger and stores it in a way that allows management to analyze costs from an internal perspective?
Cost Management
What are 5 types of subsidiary ledgers?
accounts receivable ledger, accounts payable ledger, notes receivable ledger, notes payable ledger and equipment subsidiary ledger
What is difference between Nominal Ledger general ledger?
General ledger is just another name given to nominal ledger. Nominal ledger is a ledger that maintains impersonal accounts like sale , purchase, capital etc.
What is Incoming Ledger?
What is in incoming ledger
What is another name for General Ledger?
Another name for the General Ledger is Nominal Ledger.
Why AP ledger requires a subsidiary ledger?
AP Ledger requires a subsidiary ledger to help keep the clutter down in the general ledger. The standard ledger can often fill up with a large amount of activity, making it difficult to handle.
What can extend the staff upwards or downwards?
Ledger lines can be used to extend the staff.
What is the example of subsidiary ledger?
subsidary ledger
