Materials/Store Ledger Card Definition:
Materials or store ledger card provides a continuous record of materials received, issued and balance at any time both in quantity and value.
In other words, This card shows the detailed information regarding receipts, issues and the balance in hand for each kind of materials at any time. The receiving report and material requisition or the bill of materials serves as the original source of information for making entries on the card.
Other Related Accounting Articles:
- Materials Requisition Form Definition
- Perpetual Inventory System Definition
- First In First Out (FIFO) – Materials and Inventory Costing Method
- Definition and Explanation of Ledger
- Standard Cost Card Definition
- The Bill of Exchange
- Difference between Bill of Exchange and Cheque
- Definition and Explanation of Bill of Exchange
- Material Requirements Planning (MRP) Definition
- Bill of materials Definition
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