Books of First Entry Prime Books

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Presentation transcript:

Books of First Entry Prime Books Day Books Books of First Entry Prime Books http://www.understand-accounting.net/TheAccountingCycle.html http://itunes.apple.com/ie/itunes-u/acc-211-principles-accounting/id413644706

Trading, Profit & Loss A/C Documents Day Books Ledgers Trial Balance Trading, Profit & Loss A/C Balance Sheet

Documents – Day Books Documents Day Books Purchases Day book Purchases Invoices Sales Invoices Purchases Credit Notes Sales Credit Notes Cash Receipts Cash Payments Cheques Bank Statement Petty Cash Voucher Other Purchases Day book Sales Day book Purchases Returns Day Book Sales Returns Day book Cash Book Cheques Journal Petty Cash Book The Journal Pg 72

Sales Day Book Date Details/Customer Invoice # Folio NET € VAT € TOTAL € CR Sales Cr VAT DR Receivables Control Post to individual Receivables/Debtors Debtors

Purchases Day Book Date Details/Supplier Invoice # Folio NET € VAT € TOTAL € DR Purchases DR VAT CR PayablesControl Post to individual Payables/Creditors Debtors

Sales Returns Day Book Date Details/Customer Cr Note # Folio NET € VAT € TOTAL € DR Sales Returns DR VAT CR Receivables Control Post to individual Receivables/Debtors Debtors

Purchases Returns Day Book Date Details/Supplier Cr Note # Folio NET € VAT € TOTAL € CR Purchases Returns CR VAT DR PayablesControl Post to individual Payables/Creditors Debtors

Cash Receipts Book (Debit) Date Details F Total € Debtors € Cash Sales € VAT € Dis Allowed Dr Bank Cr Receivables Control Cr Cash Sales Cr VAT Cr Debtors Control and Debtors A/C, Dr Discount Allowed A/C Post to individual Receivables/Debtors Debtors

Cheques Payments Book (Credit side) Date Payee F Total € Creditors € Purchases € VAT € Other € Disc Received € Cr Bank Dr Creditors Control Dr Purchases Dr VAT Dr other Dr Creditors Control and Creditor A/C, Cr Discount Received A/C Post to individual Payables/Creditors Everything into Total and one other column Disc Received is not part of double entry here

Journal Entry – unusual entries DR CR Dr …A/C X Cr …A/C Being the ………………………………………………