Receivables ledger
The receivables ledger holds separate customer accounts for credit sales, receipts and credit notes. Customer accounts show amounts invoiced, received and credited, enabling the business to chase overdue debts. The sum of balances should be reconciled to the general-ledger control account. An ageing analysis separates balances by how long they have been outstanding. A credit balance can arise, for example, if a customer pays more than owed.
Worked example
A customer account shows an invoice 300 and payment 100, leaving 200 due.
Common mistake
Its total is reconciled with the control account; the allowance for expected credit losses is treated separately.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| 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 |