Let us see various formats of ledger accounts:
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In the books of M/s. ABC Company |
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Ledger account of M/s XYZ LTD. |
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Dr. |
Cr. |
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Date |
Particulars |
F |
Amount |
Date |
Particulars |
F |
Amount |
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xxxx |
To Balance b/d |
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xxx |
Xxxx |
By Balance b/d |
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xxx |
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xxxx |
To Name of the debit account |
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xxx |
Xxxx |
By Name of Credit account |
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xxx |
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xxxx |
To Balance c/d |
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xx |
xxxx |
By Balance c/d |
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xx |
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Total Rs. |
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xxxx |
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Total Rs. |
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xxxx |
Nowadays, the handwritten books are being replaced by computerized accounts. The companies majorly use a six-column format to maintain ledger accounts of their customers. It looks as follows:
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In the books of M/s. ABC Bank Ltd. |
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Ledger account of M/s XYZ Ltd. |
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Date |
Particulars |
LF |
Amount |
Balance |
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Debit |
Credit |
Dr. / Cr. |
Amount |
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Format-1 is used for academic purpose. Hence, this format is useful to learn the basics and principles of accounting.
Format-2 is used by banking and financial organization as well as well as by most of the business organizations.