Nominal Ledger

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August 31, 2024 5 min read Definitions

Real Account: A Ledger Account for Tangible and Intangible Assets

Accounting Finance Ledger Account Tangible Assets Intangible Assets Nominal Ledger Historical Context

An in-depth overview of Real Accounts, their historical context, types, key events, detailed explanations, and importance in accounting.

August 31, 2024 4 min read Definitions

Returns Inwards Book: Sales Returns Ledger

Accounting Finance Sales Returns Debtors Ledger Returns Inwards Nominal Ledger Prime Entry

The Returns Inwards Book records any returns of goods sold. It posts to the individual debtor's account in the debtors' ledger, and the total returns are posted to the debtors' ledger control account and the returns inwards accounts in the nominal ledger.