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Sales ledger

Also called: Receivables ledger

What is a sales ledger?

The sales ledger holds one account for each credit customer.

Invoices go on the debit side of the customer's account. Credit notes and payments go on the credit side.

It is a subsidiary ledger: the detail behind the Trade receivables total in the general ledger.

Example

A customer owes £180.00 at the start of the month. It is invoiced £360.00 and pays £180.00. Its account in the sales ledger now shows £360.00 owed.

Why it matters

The general ledger shows the total owed. The sales ledger shows who owes it. The customer balances added together should equal the balance on Trade receivables.

Practise it

  1. The general ledger and the two subsidiary ledgers10 min, easyPremium
  2. How to post to each customer's account8 min, easyPremium
  3. The sales ledger control account10 min, mediumPremium
See the first roomThe general ledger and the two subsidiary ledgers

Ledger Drill is practice, not tax or accounting advice. If this looks wrong, tell us at [email protected].