What is Store Ledger

Like accounts ledger, store ledger is the book or file in which we contain the accounts of different stock items which is in the store. When store keeper gets or issues any items of inventory, he records it in the respective inventory item's account. So, every item account shows the total receipt, total issue and total balance. Both quantity and value of item is record in each account.

Benefits of Store Ledger 

Store ledger is helpful to apply the perpetual inventory system. Internal auditor can easily verify the items of store. When he gets the book information of inventory items in store through store ledger, he can easily compare it with physical quantity of inventory.

After this, he can find the mistake in record or any fraud. Employees of store will also do their duty with full of care because they know that everything will be recorded. They do not do the mal practices of inventory in store.

Reconciliation of Store Ledger Balance 

Reconciliation of Store Ledger balance means to compare the actual quantity of inventory in store with the quantity which is showing by store ledger. There may be surplus or deficiency in the store ledger balance. There are two reasons of not matching the store ledger balance with actual balance

1. Normal Reason 

a) Avoidable Reason

1) Incorrect Measurement of Issue

II ) Carelessness in Material Handling

III) Improper storage of materials

IV) Loss by insects

b) Unavoidable Reason

I) Natural Decrease or Increase  in the Material

II) Unrecorded Depreciation

2. Abnormal Reason 

1. Loss by theft or fire or natural mis-happening  which is abnormal and we can manage it by taking insurance policy. 


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Accounting Education: What is Store Ledger
What is Store Ledger
Accounting Education
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