- Accounts Payable Subsidiary Ledger
An accounting ledger that shows the transaction history and amounts owed separately for each supplier from whom the business receives credit for purchases. The balance in the customer accounts is periodically reconciled with the accounts payable (AP) balance in the general ledger to ensure accuracy. The AP subsidiary ledger is also commonly referred to as the AP subledger or subaccount.
The utility of the accounts payable subsidiary ledger lies in the fact that it can show at a glance the amounts owed to a specific supplier. For example, the general balance may show a total accounts payable balance of $50,000, but it will not show which supplier is owed how much. This information can be gleaned from the accounts payable subsidiary ledger.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
subsidiary ledger — A group of *accounts used to support a main *general ledger account. Typically, *transaction intensive accounts like *accounts receivable, *accounts payable, and *petty cash expenses are recorded in subsidiary ledgers, the totals of which are… … Auditor's dictionary
Accounts receivable — (A/R) is one of a series of accounting transactions dealing with the billing of customers who owe money to a person, company or organization for goods and services that have been provided to the customer. In most business entities this is… … Wikipedia
General ledger — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia
Controlling account — In accounting, the controlling account (UK: control account; also known as adjustment account) is an account in the general ledger for which a corresponding subsidiary ledger has been created. The subsidiary ledger allows for tracking… … Wikipedia
NewViews — Accounting Software Developer(s) Q.W.Page Associates Inc. Stable release 2.21.1 (current release) / October 28, 2011 Operating system M … Wikipedia
accounting — I (New American Roget s College Thesaurus) Keeping of financial records Nouns 1. (act of accounting) accounting, accountance, accountancy, bookkeeping, audit, calculation (See numeration), commercial or business arithmetic; cost or managerial… … English dictionary for students
Balance Consulting — Infobox Company company name = company type = Private foundation = 1989 location = Ann Arbor, Michigan key people = Janet Fry, President; Denise Johnson, General Counsel Tax Compliance Manager num employees = 37 industry = Professional services… … Wikipedia
Medici Bank — For the private bank in Austria that failed due to its investment in Bernard Madoff s Ponzi scheme, see Bank Medici. Medici Bank Industry Banking Key people Giovanni di Bicci, Cosimo de Medici, Piero di Cosimo, Lorenzo de Medici, Francesco… … Wikipedia
Royalties — Not to be confused with Royal family. Royalty cheque. Royalties (sometimes, running royalties, or private sector taxes) are usage based payments made by one party (the licensee ) to another (the licensor ) for the right to ongoing use of an asset … Wikipedia
Medici bank — Infobox Defunct Company company name = Medici bank company fate = Shut down by authorities successor = foundation = c. 1397 defunct = 1494 location = Various; home branch in Florence, Italy industry = Banking key people = Giovanni di Bicci,… … Wikipedia