A receivables ledger is the subsidiary accounting record that lists every credit sale and the amount each customer still owes. Also called the sales ledger or accounts receivable ledger, it holds one account per customer, showing invoices raised, payments received and the running balance outstanding, so you can see exactly who owes what and for how long.
It sits beneath the general ledger. The general ledger carries a single control total for accounts receivable; the receivables ledger breaks that total down customer by customer. Keeping the two in step is what reconciliation checks.
One account per customer.It tracks invoices, payments and the balance owed for each debtor.
Also called the sales ledger.Receivables ledger, sales ledger and AR ledger all mean the same record.
It feeds the general ledger.Its total must reconcile to the accounts receivable control account.
Each customer account is a running statement: every invoice adds to the balance, every payment reduces it. A single customer's ledger looks like this.
| Date | Reference | Detail | Charges | Payments | Balance |
|---|---|---|---|---|---|
| 1 May | INV-1042 | Invoice raised | 2,400.00 | - | 2,400.00 |
| 9 May | RCT-318 | Payment received | - | 2,400.00 | 0.00 |
| 18 May | INV-1098 | Invoice raised | 1,150.00 | - | 1,150.00 |
| 30 May | CN-074 | Credit note | - | 150.00 | 1,000.00 |
| Balance outstanding | 1,000.00 | ||||
The sales ledger and receivables ledger are the same thing: the customer-by-customer record of money owed. The general ledger is the master set of accounts that holds only the single accounts receivable total. The receivables ledger is the detail; the general ledger is the summary. Keeping them equal is the job of ledger reconciliation. The balances it tracks are your trade accounts receivable.
In Xero or QuickBooks, the receivables ledger is maintained automatically as you invoice and reconcile payments. The gap most teams have is acting on it: spotting overdue balances and chasing them. Paidnice reads the ledger and automates reminders, statements and escalations, while AR reporting turns it into an aging view you can act on.
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