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Book-keeping


BOOKS OF ORIGINAL ENTRIES

These are the books of first entry. The transactions are first recorded in these books before being entered in the ledger books. These books are also called as books of Prime entry or Subsidiary books. They are six in number.

  • 1. Purchases Journal (or Purchases Book) used to record all credit purchases of goods. It is written up from invoice.
  • 2. Sales Journal (or Sales Book) is used to record all the credit sales of goods. It is written up from the invoice.
  • 3. Sales Returns Journal (or Return Inwards Book): It is used to record all returns inwards. It is written up from the copies of the credit notes send to customers.
  • 4. Purchases Return Journal (or Returns Outwards Book): It is used to record all purchases returns. It is written up from the credit notes received from the suppliers.
  • 5. Cash Book: It is used to record all receipts and payments of cash and cheques. It is been given the ruling in such a way that it acts both as a book of original entry and ledger account.
  • 6. General Journal (or Journal): This book is used to record all those items or transactions that can not be recorded in any other book of original entry like
  • i. Correction of errors
  • ii. Opening entries
  • iii. Purchase or Sale of Assets on Credit etc.

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