Types of Ledger in Basic Accounting

Ledger is just classification of accounts. A small business enterprise makes only one ledger book in which he prepares all his accounts due to the numbers of transactions are very measly.
If the numbers of transactions are very large, then ledger can be divided into following types or parts.

1. Debtor ledger :-


These ledger accounts of customers are opened to whom trader has sold the goods, so its other name is also sale account ledger. Because all credit sale’s amount can be checked from the amount due from debtors in this ledger.
It is also one place where we can find each debtor’s closing balance.

2. Creditor’s ledger:-

In this ledger accounts of suppliers are opened from whom trader has purchased the goods, so it is also called purchase ledger.

3. General ledger:-

In this ledger all journal entries are posted except relating to credit sale and purchase.

related : Types of Accounts