Can anyone explain how self balancing ledger works...in simple language.....
i also can't understand the accounting....
1) as in i have come across a sum where,openingbalance of sundry debtors is (Dr)rs 40000 and (Cr 2000).
and in the Debtors ledger Adjustment A/c in the Genral ledger both the balances are written on the respective sides
how can a A/c have both Cr and Dr balance together
2) in the same account it has ' To GLA A/c ' and ' By GLA A/c' on both the sides.
3) what is transfer from Debtors Ledger to Creditors Ledger and vice versa (meaning)