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Payables ledger

The payables ledger contains individual supplier accounts showing invoices, payments, credits and balances. Each supplier account provides detail that the single general-ledger control account cannot show. Check invoices and credit notes against the supplier statement, record missing items and compare the total of the individual balances with the control account. The ledger can also provide due dates and help the business plan supplier payments.

Worked example

A supplier's account shows a 500 invoice less a 200 payment, leaving 300.

Common mistake

Reconcile the total to the control account; it is not a substitute for the general ledger.

Where it appears in your exams

QualificationExamRelationshipPeriod
ACCA F1 Supporting July 2027–August 2028
ACCA FA Direct September 2026–June 2027
ACCA K1 Direct July 2027–August 2028
CIMA BA3 Direct Official assessment-window verification pending
FIA FFA Direct September 2026–June 2027

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