debtors' ledger

= sales ledger; = sold ledger
A memorandum ledger account in which individual debtors' accounts are recorded. Each account records sales made (debit), payments received (credit), discounts given (credit), and returns inwards (credit). The total sum of all individual debtors' ledgers is periodically extracted and compared to the total on the debtors' ledger control account as part of the internal control system. The total of the individual debtors' ledger accounts should always equal the debtors' ledger control account.

Accounting dictionary. 2014.

Look at other dictionaries:

  • debtors' ledger — UK US noun [C] UK ► ACCOUNTING the part of a company s accounts that shows money owed to the company → Compare CREDITORS LEDGER(Cf. ↑creditors ledger) …   Financial and business terms

  • debtors' ledger — See sales ledger …   Big dictionary of business and management

  • debtors' ledger control account — sales ledger control account A nominal ledger (or general ledger) control account that records the totals of entries made to the individual debtors ledgers from the sales day book and the cash receipts journal. The total on the debtors ledger… …   Accounting dictionary

  • ledger — led‧ger [ˈledʒə ǁ ər] noun [countable usually plural] ACCOUNTING one of the books or computer records showing the totals of items shown separately in the Books Of First Entry or day book S; = BOOK OF FINAL ENTRY: • Gone are the days of ledgers… …   Financial and business terms

  • debtors — Those who owe money to an organization, for example for sales of goods. The balance on the debtors ledger control account is included in the balance sheet (subject to any provision for bad debts) under current assets. Amounts due from debtors in… …   Accounting dictionary

  • ledger — Fin a collection of accounts, maintained by transfers from the books of original entry. The ledger may be subdivided as follows: the sales ledger/debtors ledger contains the personal accounts of all customers; the purchases ledger/creditors… …   The ultimate business dictionary

  • ledger — A collection of accounts of a similar type. Traditionally, a ledger was a large book with separate pages for each account; in modern systems they will usually consist of computer records. The most common ledgers are the nominal ledger containing… …   Accounting dictionary

  • sales ledger — debtors ledger The ledger that records the personal accounts of an organization s customers. The total of the balances in this ledger represents the organization s trade debtors …   Big dictionary of business and management

  • nominal ledger — general ledger The ledger containing the nominal accounts and real accounts necessary to prepare the accounts of an organization. This ledger is distinguished from the personal ledgers, such as the debtors ledger and creditors ledger, which… …   Accounting dictionary

  • personal ledger — A ledger containing personal accounts, for example the debtors ledger and the creditors ledger …   Accounting dictionary

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