Fiducia TogetherPurchase ledger
The record of what you owe suppliers, and the controls around paying it.
Please note: This page explains what a term means. It is general information, not legal, financial, tax or investment advice, and it does not know anything about your business. Before you sign, file or commit to anything, check it with an accountant, a solicitor, or the official guidance we link to.
What it means
The purchase ledger records supplier invoices, credit notes and payments, producing the aged creditors position.
Why it matters
It is where duplicate payments, fraudulent invoices and unapproved spending get caught, or do not.
What it looks like in practice
Three-way matching — purchase order, delivery note, invoice — is the standard control. Supplier statement reconciliation catches missing and duplicated invoices.
What to watch out for
Invoice fraud. A changed bank detail on a genuine-looking invoice is the commonest business fraud, and the control is verification by phone — see fraud.
Where to get proper advice
Your accountant.
Where to read more
Last reviewed 2026-08-28 by Fiducia Together · Next review due 2027-08-28
Please note: This page explains what a term means. It is general information, not legal, financial, tax or investment advice, and it does not know anything about your business. Before you sign, file or commit to anything, check it with an accountant, a solicitor, or the official guidance we link to.