Chapter 12 Book-keeping Books And Accounts Or Ledgers

Book-keeping Books and accounts or ledgers

Chapter 12

Wood/Robinson: Book-keeping and Accounts, 6e, © T. Sijtsma 2007

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Books of original entry

Sales Day Book – for credit sales Purchases Day Book – for credit purchases Returns Inwards Day Book – for returns inwards Returns Outwards Day Book – for returns outwards Cash Book – for receipts and payments of cash and cheques General Journal – for all other items

Wood/Robinson: Book-keeping and Accounts, 6e, © T. Sijtsma

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Types of ledgers The different types of ledgers most businesses use are: Sales ledger – for customers’ personal accounts Purchases ledger – for suppliers’ personal accounts General ledger – for all remaining double entry accounts

Wood/Robinson: Book-keeping and Accounts, 6e, © T. Sijtsma

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Using more than one ledger

Main reason of using more than one ledger is: To allow different members of staff the ability to record transactions at the same time.

Wood/Robinson: Book-keeping and Accounts, 6e, © T. Sijtsma

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A diagram of the books commonly used

Wood/Robinson: Book-keeping and Accounts, 6e, © T. Sijtsma

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Types of accounts

Wood/Robinson: Book-keeping and Accounts, 6e, © T. Sijtsma

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End of Chapter 12

Wood/Robinson: Book-keeping and Accounts, 6e, © T. Sijtsma 2007

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