What do you understand by self balancing system state its advantages?
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Self-Balancing Ledgers: Objects and Advantages! Self-balancing system is a system whereby separate Trial Balance can be taken out from each ledger. “General Ledger Adjustment Account” will be maintained in each of the sales and bought ledger.
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Self-balancing system is a system whereby separate Trial Balance can be taken out from each ledger. ... It is the reverse of the Total Debtors Account in Sales Ledger and Total Creditors Account in Bought Ledger. Under this system ledgers are made self-balancing by opening adjustment accounts.
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