Study Ledger format with this FREE poster

Use this Free poster during study time to learn the Ledger format for sales and purchases.

All day-to-day activities must be recorded in order to know if the business is making a profit or a loss. There are 3 types of Ledgers to record transactions:

1. General Ledger records all transactions. 

2. Sales Ledger records all Accounts receivable accounts and their details. Debtors get separate accounts named after them in the Sales Ledger. 

3. Purchases Ledger records all Accounts payable accounts and their details. Creditors get separate accounts named after them in the Purchases Ledger.

The Ledger format is shaped like a capital T. There is a horizontal line across and a vertical line that starts at top centre of this line that goes straight down.

The left side at the top of the ledger account is labelled Dr which is debit and the right side is labelled Cr which is credit. Each side is divided into 4 columns labelled Date, Details, Folio, $.

This FREE poster will help you to learn the Ledger format quickly so that you can spend your study time learning the difficult topics. This poster will help prepare you to do homework better, pass exams or do basic accounting for a small business.

How to learn the Ledger format with this FREE poster

When you download this FREE poster to learn the Ledger format, you can print the document on paper size 8.5×11 inches, landscape orientation.

Stick the poster on the wall of your study area to learn the Ledger format. Whenever you are doing an accounting question, make sure to look up and check your poster for guidance.

You will see that the Sales Ledger format shows a balanced account as the debtor paid the full amount in cash and was allowed a discount.

However, the Purchases Ledger format shows that the business still owes money to the supplier therefore no discount was received.

The Ledger format is different in the two posters to show students that different scenarios can occur in business so it is wise to understand the transactions rather than memorise formats.

Eventually, you would not have to look at the poster again because you would learn that the Ledger format can be different for questions and you would know what to do.

Download free poster and learn the Ledger format

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