The accounts payable subsidiary ledger definition is a term used in accounting to describe a specific type of financial ledger that records all of the transactions related to a company's accounts payable. This ledger is used to track all of the money that a company owes to its vendors, suppliers, and other creditors. The accounts payable subsidiary ledger is a important tool for a company to manage its finances and keep track of its obligations. What is another name for the AP ledger? The AP ledger is also called the Accounts Payable ledger. What are the three types of subsidiary ledgers? 1. Accounts Receivable Subsidiary Ledger
2. Accounts Payable Subsidiary Ledger
3. General Ledger How many sub ledgers are there? There is no set answer to this question, as the number of sub ledgers can vary depending on the size and complexity of the business. However, some businesses may have just a few sub ledgers, while others may have dozens or even hundreds. What is the difference between a controlling account and a subsidiary ledger? A controlling account is an account that is used to summarize the activity of a group of related accounts in the general ledger. A subsidiary ledger is a ledger that contains the detailed information for a specific account in the general ledger.
What is the main purpose of preparing accounts payable ledger?
The main purpose of preparing an accounts payable ledger is to keep track of all the money that a company owes to its suppliers. This information is important because it helps the company to keep track of its expenses and make sure that it is not spending more money than it has.