Prime entry books to account for transactions

Source documents are being summarized, i.e. business must keep records of sources documents to track payments from customers or owed amounts to suppliers, movement of goods and delivery of services. Such recording is made in books of prime entry, i.e. where transaction is recorded first

Books of prime entry:

  • Sales day book

  • Purchase day book

  • Sales return day book

  • Purchase return day book

  • General journal

  • Cash book



Sales day book

Sales day book of initial entry for sales on credit. Includes list of invoices issued and sent to customers each day

 

Purchases day book

Book of initial entry for purchases on credit. Includes list of purchases invoices received

 

Sales returns day book
Book of initial entry for credit notes raised. Includes list of credit notes issued and sent to customers each day

 

Purchase returns day book
Book of initial entry for credit notes received from suppliers. Includes list of credit notes received for returns made to suppliers

 

Cash book
Used to record all transactions, which go through bank account

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