1.1 Chronological list of all credit
purchases. These are complied from
invoices received from creditors.
2 Purchases Returns Journals:
(Purchases Returns Day Book)
2.1 Chronological list of all purchases
subsequently returned to suppliers. These
are complied with the credit notes received.
3 Sales Journal:
(Sales Day Book)
3.1 Chronological list of all credit sales.
These are complied from invoices issued
by the company to debtors.
4 Sales Returns Journals:
(Sales returns day book)
4.1 Chronological list of all sales subsequently returned
to the company by customers. These are complied
from credit notes issued by the company.
5.1 Used to record entries such as the
purchase or sale of fixed assets or the
correction of errors.
6 Purchase Ledgers:
6.1 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.
7 Sales Ledgers:
7.1 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.
8 General Ledgers:
8.1 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.
9.1 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.