What You Will Learn!
- Meaning of Ledgers in Accounting
- How to prepare ledgers in accounting
- How to create Ledgers of Balance Sheet items like Fixed Assets, Bank Loan, Capital etc.
- How to create Ledgers of Profit & Loss Account items like Sales, Purchases etc.
Description
In this video you will learn how to create Ledgers in accounting.
Ledger is a book where all business related transactions are store.
Whenever businessman starts business he or she have sales, purchases, expenses for the business. He or she also raises capital for the business, takes bank loans , makes investment in plant & machinery or investment in deposits etc.
For each and every item affecting business ledger is created in accounting.
Example of Ledger is Sales Ledger, Purchase Ledger, Expense Ledger, Capital Ledger, Bank Loan Ledger, Plant & Machinery Ledger , Investment Ledger , Cash Ledger, Bank Ledger etc.
After Passing Journal Entry same is posted in Ledger and all this ledger balances are kept at one place called as a trial balance which is later used to prepare main financials like Profit & Loss account and Balance Sheet.
You will learn through this series how to create accounting ledger from balance sheet approach means first you will learn how profit & loss account and Balance Sheet is prepared and how to create ledgers from that so that ledger creation can be understood in layman language.
We will also learn how to prepare ledgers in 'T Format' once students learn how to create ledgers based on balance sheet approach.
Lets learn ledger creation in accounting with balance sheet approach.
Who Should Attend!
- Learners of Book Keeping and Accounting
- Commerce Students
