Assertion: general ledger's account | /r/HasProperty | payable subsidiary ledger
Facets:
Source sentences:
text: An accounts payable subsidiary ledger is an accounting ledger that shows the transaction history and amounts owed to each supplier and vendor.
text: Definition: The accounts payable ledger, also called the creditors ledger, is a subsidiary ledger that lists all of the vendors and suppliers that a company owes along with their account balances and details.
text: When the financial statements are prepared, the accounts payable total is listed with other short-term financial obligations under the current liabilities section of the balance sheet.
text: Receivable Asset 125 Supplies Inventory Asset 139 Merchandise Inventory Asset 200 Accounts Payable Liability 410 Product Sales Revenue Revenue 525 Cost of Goods
text: For example, the accounts payable sub-ledger may contain thousands of entries reflecting business activity with vendors.
text: Let's now take a look at a four step approach for an accounts receivable reconciliation and an accounts payable reconciliation.
text: Key Takeaways An accounts payable subsidiary ledger is an accounting ledger that shows the transaction history and amounts owed to each supplier and vendor.
text: The accounts payable subsidiary ledger is also commonly referred to as the AP sub-ledger or subaccount.
text: The accounts payable subsidiary ledger is a breakdown of the total amount of payables listed on the general ledger.
text: Since companies can have multiple orders with the same vendor and many different vendors, the accounts payable subsidiary ledger keeps track of what's owed without having to make numerous accounting entries on the general ledger.
text: The accounts payable subsidiary ledger is helpful in providing internal accounting controls.
text: The accounts payable ledger does just this.
text: The accounts payable ledger is another subsidiary ledger used to keep track of how much the business owes to its suppliers/vendors, also known as creditors.