A Ledger: It is the principal book of account where transactions are recorded for easy reference and to assist in the double entry system of a business entity.
bi. Uses of an invoice to the seller
(i.) It is used to prepare sales day book
(ii) It is kept as evidence of sales
(iii) It is sent to the storekeeper to check the goods to be dispatched
(iv) It is given to the transporter to complement other documents
(v) It is used to inform the buyer of the terms of payment
(vi) It is a complete summary of the Sales transaction
(vii) It is used as an interval control document minimization of fraud.


bii. Uses of an invoice to the buyer
(i) It is used to prepare the purchases day book
(ii) It is kept as evidence of purchases
(iii)It serves as an advice note which enables the storekeeper to check with the goods on arrival;
(iv) It shows details of the purchase transaction
(v) It enables the storekeeper to prepare the Goods Received Note (GRN)


c Advantages of dividing the ledger into different classes
(i) Individual accounts are easily located
(ii) It minimizes error and fraud by having different persons completing a transaction
(iii)Staff who maintains one of the divisions, for example sales ledger, would become an expert in that area
(iv) It enables the building of additional controls into the bookkeeping system to check accuracy
(v) It allows for easy reference
(vi)It provides for quick retrieval of information
(vii) It makes it easier to divide the work of keeping the ledger to different book keepers.