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Self balancing ledger

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(Querist)
30 March 2009 Self balancing ledger is use for what?
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
31 March 2009 A system which makes use of control accounts so that each ledger will balance on its own. A control account in a subsidiary ledger will be mirrored with a control account in the General ledger.
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
31 March 2009 i agree with expert.
the use of Self balancing is ......


(i)deduction of error in debtors/ creditors A/c
(ii) Errors are localised.
(iii) It enables preparation of interim accounts without personal ledgers having to be balanced.
(iv) The figures of total debtors or creditors is readily available.
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