What is a Ledger in Accounting?
Despite the chaos in her personal life, Williams had no other choice but to power through the shoot. Private Ledger consists of accounts which are confidential in nature. Nominal Ledger – As the name suggests it contains all nominal accounts i.e. expense, losses, incomes and gains. Examples – Salaries, Sales, Purchases, Returns Inward/Outward, Rent, Stationery, Insurance, Depreciation, etc. Cash book Accounts payable sounds simple enough—log invoices, post them, pay on time. But in practice, small errors and process gaps can snowball into [...]