Day Books Books of First Entry Prime Books. DocumentsDay BooksLedgers Trial Balance Trading, Profit & Loss A/C Balance Sheet.

Slides:



Advertisements
Similar presentations
Summary so far……..  SPECIAL JOURNALS  Special journals  classify and summarise data from source documents.  The use of special journals  allows.
Advertisements

Control Accounts.
Joan Martin. This module is revision for students who are studying Junior Certificate Business Studies and have an interest in studying Accounting for.
 As a business grows, its ledger grows too—the number of accounts for ________________ (A/R) and __________________ (A/P) increases as the business expands.
EASY EFFICIENTLY LATEST TECHNOLOGY MuMMy ACCOUNTING “Always a step, Ahead”
The Organisation of Accounts Chapter 5. Accounting system overview Books of original entry Double entry transactions Profit & Loss Statement Trial Balance.
MuMMy Accounting. Master Forms Product Group Master.
BUSINESS DOCUMENTS. Stages of Financial Recording Calculate Net Profit and Capital Employed Prepare Final Accounts and Balance Sheet Balance ledger accounts.
CORRECTING ERRORS Learning Objectives Identify types of errors
Financial Accounting 1 Lecture – 26 Recap With the increase in business, it becomes difficult to maintain separate accounts for every Debtor and every.
Correction of Errors one approach Gabrielle Moran 17th April 2010.
Format of Accounts in Class XI
Why Record Transactions? To have a systematic recording of transaction  analyze  report to users Items that goes to Balance Sheet (Asset, Liability &
6-1 Copyright  2006 McGraw-Hill Australia Pty Ltd PPTs t/a Introductory Accounting 2r, by David Willis By Kaye Watson Chapter 6 – Cash and Credit Journals.
Accounting Entry Flow LAI Siu Tim Timmy Timothy In-service Course of Teacher Training (Technical)
The closing of the General Ledger
Review HST recoverable – tax you paid for purchases related to business HST payable - tax you charge customers We analysed our transactions using HST.
Accounting Process Financial Transactions or events Recording Communication to the users Analysis and Interpretation Summarising as Trial balance etc Classifying.
Chapter 6- Source Documents. Source Document (p. 165)  Is a business paper that shows the nature of a transaction.
Introduction to Book-keeping and Accounting. What is Book-Keeping? Recording business transactions in financial terms.
Control Accounts. Four main control accounts –Sales Ledger Control Account –Purchase Ledger Control Account –VAT Control Account –Wages Control Account.
Trading and Profit & Loss Account
New Company. To open existing Company Company selection for Multicompany.
Double Entry System 2 DRCR. An Overview… General Journal Special Journals Ledger Accounts Trial Balance Prepare Simple Financial Statements Adjustments.
Correction of Errors 1Purpose of a Trial Balance A trial balance is prepared to test the __________ of the book keeping. As every transaction recorded.
Book - Keeping Double entry Book-keeping. Why set up a business?
Accounting & Financial Analysis 111 Lecture 8 Source Documents, Day accounts/Specialised Journals, Debtors & Creditors Subsidiary Ledgers.
FSTP Incomplete Records
Chara Charalambous CDA COLLEGE 1 ACC102: FINANCIAL ACCOUNTING Week 9: Lecture 9.
SOURCE DOCUMENTS Chapter 6.2. Source Documents A business paper that shows the nature of a transaction and provides all of the information needed to account.
Recording of Provision
Book - Keeping Double entry Book-keeping. Activity - Financial Terms Capital Drawings Asset Liability Capital expense Revenue expense Returns inward Returns.
1 Module 3. Recording Financial Transactions Dr. Varadraj Bapat.
Dr.Varadraj Bapat 1 Module 3. Recording Financial Transactions.
Keeping Tabs On Your Cash. Records Provide Information About profitability To make sound business decisions To set profitable prices To alleviate financial.
10.1 & 10.2 Merchandising Business Review. $120,000 available goods to sell $25,000 not sold & on hand $95,000 sold during fiscal period EXAMPLE: Balance.
Fís Foghlaim Forbairt  www. pdst. i e Fís Foghlaim Forbairt  www. pdst. i e.
CDA COLLEGE ACC101: BOOK KEEPING 1 Lecture 6 Lecture 6 Lecturer: Kleanthis Zisimos.
Double Entry System 3 DRCR FINANCIAL STATEMENTS.
Chapter 4. Objective test 2 Provide jnl entries & show the effect on the acc equation for the following transactions in the records of ABC Entity. 15.
Advanced Financial Accounting FIN-611 Mian Ahmad Farhan Lecture-3 Single Entry (Conversion Method)
Accounting Principles Quiz. The Accounting Equation is A. Assets = Capital +Liabilities B. Assets = Capital -Liabilities C. Assets + Capital =Liabilities.
Book of First Entry, Ledger and Trial Balance Question
Bookkeeping Transactions Lesson 1
09 – Paid to Mr. A Rs. 25,000 through cheque
Master.
Business Studies/ Accounting Transition Year Module
The Journal and Source Documents
Balancing Ledger Accounts
Advanced Financial Accounting FIN-611
PRINCIPLE OF ACCOUNTS SBA
Journals and Value added tax (VAT)
Lecture 1 Debtors OR Trade Debtors – are the receivables by the organization against the sale of goods. Receivables / Other Receivables – are all receivables.
Accounting cycle Made by: Yashvi Shah.
SUSPENSE You sell on credit to Debtors
Books of Prime Entry ‘day books’
Books of First Entry Prime Books
Chapter 12 Control Systems: Control Accounts
The Journal and Source Documents
11.1 Subsidiary Ledger Systems
Manual Accounting & Computerized Accounting
Preparation of Documents
ACCOUNTING EQUATION.
Cash Account Cash Account Code 01 Cr. Rs. Narration No. Date Dr. Rs.
Recap Analysis and Recording of transactions
New Company.
Incomplete Records.
The sources of accounting for business transactions
CHAPTER 37 Debtors and Creditors Control Accounts
Source Documents.
Presentation transcript:

Day Books Books of First Entry Prime Books

DocumentsDay BooksLedgers Trial Balance Trading, Profit & Loss A/C Balance Sheet

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

Sales Day Book DateInvoice #CustomerRefTotal €Sales €VAT € Dr ReceivablesCr SalesCr VAT

Purchases Day Book DateInvoice #SupplierRefTotal €Purchases€VAT € Cr PayableDr PurchasesDr VAT

Sales Returns Day Book DateCr Note #CustomerRefTotal €Sales Returns €VAT € Cr ReceivablesDr Sales Returns Dr VAT

Purchases Returns Day Book DateCr Note #SupplierRefTotal €Sales €VAT € Dr PayableCr Purchases Returns Cr VAT

Cheques Payments Book DatePayeeChq #Total €Payables €Purchases €VAT €Wages € Electricity €Disc Received € Cr BankDr Payables Dr WagesDr Cash Purchases Dr VATDr Electricity Dr Creditors Control and Creditor A/C, Cr Discount Received A/C

Cash Receipts Book DateDetailsRefTotal €Receivables €Cash Sales €VAT €Dis Allowed Dr BankCr ReceivablesCr Cash SalesCr VATCr Debtors Control and Debtors A/C, Dr Discount Allowed A/C

Journal DRCR Dr …A/CX Cr …A/CX Being the ………………………………………………

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2024 SlidePlayer.com Inc. All rights reserved.