Difference Between Sales And Purchase Ledger

Sales Ledger Account is used to record credit sales transactions on daily basis while Purchase Ledger Account is used to keep record of credit purchases occurred on daily basis.

From Sales Ledger, we get the information about customers’s lists while purchase ledger tells us the information about suppliers’names lists from whom the company purchases goods on credit.

From Sales Ledger, at the end of the accounting period, Credit Sales are closed to Income Statement or Profit & Loss Account (P&L a/c) as a Direct Revenue and it is a part of total sales while from purchases ledger, Credit Purchases are closed to Income Statement as a Direct Expense as part of total purchases.