137280
Description
Mind Map by hannahsophie.austin, updated more than 1 year ago
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Created by hannahsophie.austin
over 11 years ago
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The Books of Original Entry
and Ledgers
- Purchases Journal:
(Purchases Day Book)
- Chronological list of all credit
purchases. These are complied from
invoices received from creditors.
- Chronological list of all credit
purchases. These are complied from
invoices received from creditors.
- Purchases Returns Journals:
(Purchases Returns Day Book)
- Chronological list of all purchases
subsequently returned to suppliers. These
are complied with the credit notes received.
- Chronological list of all purchases
subsequently returned to suppliers. These
are complied with the credit notes received.
- Sales Journal:
(Sales Day Book)
- Chronological list of all credit sales.
These are complied from invoices issued
by the company to debtors.
- Chronological list of all credit sales.
These are complied from invoices issued
by the company to debtors.
- Sales Returns Journals:
(Sales returns day book)
- Chronological list of all sales subsequently returned
to the company by customers. These are complied
from credit notes issued by the company.
- Chronological list of all sales subsequently returned
to the company by customers. These are complied
from credit notes issued by the company.
- Journal:
(Journal Proper)
- Used to record entries such as the
purchase or sale of fixed assets or the
correction of errors.
- Used to record entries such as the
purchase or sale of fixed assets or the
correction of errors.
- Purchase Ledgers:
- Is part of the double-entry system. These contain the
individual personal accounts of a businesses credit suppliers.
The main entries in the purchase ledger are posted from the
purchases journals and the cashbook.
- Is part of the double-entry system. These contain the
individual personal accounts of a businesses credit suppliers.
The main entries in the purchase ledger are posted from the
purchases journals and the cashbook.
- Sales Ledgers:
- Part of the double-entry system. These contain the
individual personal accounts of a business's credit
customers. The main entries in the sales ledger are
posted from the sales journal and the cashbook.
- Part of the double-entry system. These contain the
individual personal accounts of a business's credit
customers. The main entries in the sales ledger are
posted from the sales journal and the cashbook.
- General Ledgers:
- Part of the double-entry system, the ledger
contains all of the impersonals accounts of the
business, such as fixed assets, expenses, sales
and purchase accounts.
- Part of the double-entry system, the ledger
contains all of the impersonals accounts of the
business, such as fixed assets, expenses, sales
and purchase accounts.
- Cashbook:
- Is a book of original entry and a part of the double entry
system. This contains details of every transaction that takes
place using the company's bank account or cash funds.
- Is a book of original entry and a part of the double entry
system. This contains details of every transaction that takes
place using the company's bank account or cash funds.
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