All you need to know!
19.6.15
The following includes the source documents:-
Journal
Sales day book
Purchase day book
Returns outward
Returns inward
Cash book
* Journal:
This is a daily record of business were transactions are first recorded before posting them to the ledger accounts.
* Sales day book;
This is a book where credit sales are recorded
* Purchase day book:
This is where we record credit purchase. (Goods bought on credit )
* Returns inward book:
This is a book where we record goods that was returned by the customers due to some problems.
* Returns outward book:
This is where goods that was returned to the producers / suppliers / manufacturer are recorded.
* cash book:
This is a book of account where all cash transactions are recorded.
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