What is a 'computerised purchase ledger system' ?? please!!?

Question

What is a 'computerised purchase ledger system' ?? please!!?

Answer 1

We use Sage at work, where you can place orders with companies which have been preset on the system. This is one of the systems the NHS use to buy their stock without the use of paperwork, the payroll system is based on it. It is a large programme that allows businesses to run financially.

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Answer 2

A computerisd purchase ledger system is where when you electronically post a purchase invoice (one that comes from the supplier) onto what is called the purchase ledger. Each supplier has there own account within the purchase ledger, very easy to set them up in most systems.

The invoice is posted the the purchase ledger and the nominal ledger by the system, being say DR maintenance CR supplier in purchase ledger. This means at any one time the purchase ledger will show exactly what is due to be paid out. This is because when you pay the supplier you will DR supplier in purchase ledger CR bank, i.e netting off the liability and payment in the same account.

Most systems such as Sage and Quickbooks are perfect for this sort of thing.

Answer 3

Purchase ledger is a linear breakdown of a suppliers invoice, and what's to be paid and by when.  

Answer 4

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Answer 5

It is a system on your computer where you input all the relevant information from an invoice (for a purchase you have made). So that you can easily run reports to show what is due to be paid - how much you owe a certain company - how much you owe out all together etc.

Answer 6

The computerized purchase ledger system is a database or system that keeps tracks of your purchases. The user interface is similar to the paper purchase ledger w/ the same structure but its easy to manage than the manual.