LEDGER ENTRIEES

Ledger is a principal book in which transaction are recorded in a summarize form. It is final destination of all transactions in the subsidiary book.

Dr Format of ledger Cr

Date	Particular	Folio	Amount	Date	Particular	Folio	Amount
			N				N

SIMPLE CLASSIFICATION OF LEDGER ACCOUNT

Ledger

Personal impersonal

Debtors creditors real Nominal

PERSONAL ACCOUNT: This ledger account record the persons account such as debtors, creditors, capital and bank account
IMPERSONAL ACCOUNT: This records non – persons account such as real and norminal account.
Real Account: records the assets of the business such as building, motor vehicle, furniture, stock etc.
Norminal Account: records the income and expenses of the business such as insurance, transport, salary etc.

Ledger Account is divided into

SALES LEDGER/DEBTORS LEDGER: This is used to record account relating to debtors. Debtors are those who owe money that belongs to an organisation.

PURCHASES LEDGER: This records account of creditors. Creditors are people to whom money is owned or person from whom goods have been bought.

GENERAL LEDGER: This takes care of both real and norminal account

PRIVATE LEDGER: This is ledger where properties confidential accounts are recorded.