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Solution of Problem on Self Balancing Ledgers

Sir, I can't understand about entries u gave at last like Dr.debtors ledger adjustment account.

Siddanth from India (Dated : 6/20/2014 )
Siddhanth, I think, you have asked the question on my past lecture on Self Balancing Ledger (Simplified) which I have published on july 31, 2011.  Ok, I try to teach this journal entry with different ways.

Dear, when you do credit sale from each customer what entry, you will pass.

1. Ram Account Debit

Sale Account Credit

2. Sham Account Debit

Sale Account Credit


We have made three  account in one ledger.

One is Ram Account. Second is Sham Account and third is Sale account. Sale Account is Common for maintaining all credit sales. I think, you will agree with me from above entries. All these customers accounts will just go to same ledger. This will be just debit side record. When we add all these debtors in sale account's credit side, our credit record will complete. It means, we are following our double entry system.

But in self balancing ledger system.  We open Debtor ledger. We open all the debtors accounts in it and record credit sale, cash from debtors and credit sales return in it. But do not open other accounts like credit sales, cash account and sales return account but for double record, we need to add all these accounts in the reverse side of general ledger adjustment account. So, difference between two sides will adjust by passing following entry.

Debtor Ledger Adjustment Account Debit

General Ledger Adjustment Account Credit 

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Accounting Education: Solution of Problem on Self Balancing Ledgers
Solution of Problem on Self Balancing Ledgers
Accounting Education
https://www.svtuition.org/2014/06/solution-of-problem-on-self-balancing.html
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