Question

what are the disadvantages of ledger approach

Answer 1

Advantages of having self-balancing ledgers:Localizes the errors and facilitates in quick detection with minimum efforts;Facilitates division of work amongst different accounting staffs in the Accounts department;Responsibility for committing errors can be fixed;Possibility of collusion is lessen as the ledgers are maintained by different accounts staff;Facilitates the preparation of interim accounts and draft final accountsDisadvantages of having self-balancing ledgers:
Adds more challenges to small concerns re: more costly to maintained ( hiring separate staff to maintain these ledgers)More clerical work as the need to maintain additional columns in subsidiary books