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The ledger account is divided into equal parts, the left hand is called Debit(DR) receiving, while the Right hand is called Credit(CR) giving. It has the following columns:

  • Date Column: It is for recording the period business transaction took place.
  • Particular Column: This shows the nature of business transactions.
  • The Folio Column: This shows the page where your transactions have been recorded in the book of the ledger.
  • Amount Column: It is used for recording the amount involved in the business transaction.
Screenshot 2020 09 19 at 09.38.03

A Ledger has eight (8) columns but the simplest form of a Ledger is the “T” form. The Ledger account is balanced at the end of a specified period to indicate the amount left or the amount the organisation owes.

Common Bookkeeping Abbreviations

  • A/C            Account
  • DR            Debit
  • CR              Credit
  • CB              Cash Book
  • B/D            Brought Down
  • B/F            Brought Forward
  • C/D            Carry Down


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