Define Subsidiary Ledger
Posted by Ripon Abu Hasnat on Thursday, May 29, 2014 | 0 comments
Subsidiary ledger is a Special or supporting ledger (such as
cost ledger, purchases ledger, sales ledger) that provides more detailed
information about individual accounts than a general ledger. Used by firms with
larger number of customers (or creditors), these ledgers divide masses of
financial data into more manageable parts. Total of all individual accounts in
a subsidiary ledger equals the balance of the corresponding summary account
(called control account) in the general ledger.
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