An accounts payable ledger contains the detail for all invoices received from suppliers. This ledger is used as a subsidiary ledger, from which summary-level information is periodically posted to the general ledger. Having a separate accounts payable ledger keeps a large amount of detailed payables transactions from cluttering up the general ledger.
The ledger tracks the specific payable information for each invoice, which includes the following:
The general ledger account balance for accounts payable is compared to the ending accounts payable ledger balance to ensure that the two match; this comparison is done as part of the period-end closing process.