Coding and the ledgers
How accounts, customers and suppliers are coded, which ledger each account lives in, and how batch totals catch mistakes.
See the first roomWhat a chart of accounts is
Rooms in this module
How this works
Each room answers one problem. A task is a few lines of reading, then questions you answer in the books: post to an account, type a figure, sort, match or write a journal. Every answer is marked at once, with the rule behind it. There are no videos.
Words in this module
- General ledger
- The general ledger holds the accounts for assets, liabilities, capital, income and expenses. The double entry is made here.
- Ledger
- A ledger is a set of accounts. A business may keep a general ledger, a sales ledger and a purchases ledger.
- Purchases ledger
- The purchases ledger holds one account for each credit supplier. It shows who the business owes money to, and how much.
- Sales ledger
- The sales ledger holds one account for each credit customer. It shows who owes the business money, and how much.
Questions
How many rooms and questions are in Coding and the ledgers?
5 rooms and 46 questions. Every question is marked at once.
How long does it take?
About 45 minutes in all. A room takes 8 to 10 minutes, so you can do one at a time.
Is it free?
No. These rooms need Premium. Each room shows the start of its first task before you pay.
What should I do first?
Invoices and discounts. It is the module before this one in Business documents and transactions.