What are account ledgers?
Account ledgers record expenditures that have been made and help in the periodic process of balancing accounts. Ledgers were once handwritten, but today they can be easily kept on a computerized spreadsheet using software programs such MS Excel and Quicken. Although your school may provide you with direct access to the school budget records, it’s a good idea to maintain your own system also. A ledger account works much like your own checking account record, when you write a check you record information. When you create a purchase order or requisition, you record to whom the order was place, what items were sought, how much was spent, the date the order was initiated, etc. Different than your personal checking account, here the amount recorded for the purchase order and sent to the company and the company’s invoice sent back to your school system for payment for that order are usually different. These differences occur because some items requested were not in stock, shipping and handlin
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