What is an Accounts Payable Subsidiary Ledger. An accounting ledger of a business that shows its expenses, transaction history, and amounts owed to each supplier.

For example, assume that the following transactions have been posted to accounts payable subsidiary ledger: debits in the amount of $1,000 for purchase returns and discounts received, and credits ...

Depending on the software you use, the journal may be called the accounts payable subsidiary ledger. Advertisement. Article continues below this ad. Reconciling Accounts Payable to General Ledger.

Strictly defined, the business term accounts payable refers to a liability, ... Liabilities are traditionally recorded in the AP sub-ledger at the time an invoice is vouched for payment.

To illustrate accounts payable in the context of an accounting ledger, suppose a tech company that builds computer operating systems, called ABC Systems, owes $30,000 to a chip manufacturer for ...

Accounts payable is an account within the general ledger representing a company's obligation to pay off a short-term obligations to its creditors or suppliers.

Additionally, Accounts Payable can send supporting documentation along with the check to aid in applying the payment accurately if additional attachments are not listed on the check remittance advice.

The accounts receivable subsidiary ledger records everything having to do with a business's extended credit. It is virtually impossible for a large-scale business to adequately track its ...