Part CChapter 4: Sources, records and books of prime entry Chapter 5: Ledger accounts and double entry Chapter 6: From trial balance to financial statements... Chapter 4SOURCES, RECORD
Trang 1Part C
THE USE OF DOUBLE
ENTRY AND ACCOUNTING
SYSTEMS
1
Trang 2Part C
Chapter 4: Sources, records and books of prime
entry
Chapter 5: Ledger accounts and double entry
Chapter 6: From trial balance to financial
statements
Trang 3Chapter 4
SOURCES, RECORDS AND BOOKS OF PRIME ENTRY
Trang 4Learning Objectives
1 The role of source documents
2 Sales and purchase day books
3 Cash books
Trang 5The role of source documents
Source documents
Business transactions are nearly always recorded on a
document These documents are the source of the information
in the accounts Such documents include the following:
•Quotation
•Sales order
•Purchase order
•Invoice
•Credit note
•Debit note
•Goods received note
5
Trang 6The role of source documents
Books of prime entry
The source documents are recorded in books of
prime entry
Trang 7The role of source documents
Journal:
Journals are used to record source information that
is not contained within the other books of prime
entry They record the following:
•Period end adjustments
•Correction of errors
•Large / unusual transactions
7
Trang 8Sales and purchase day books
Trang 9Cash book
Cash receipts and payments are recorded in the cash book
9
Cash payments are recorded in a similar way
Trang 10Cash book
Trang 11Cash books
11
Under the ‘imprest system’:
Reimbursement is made equal to the voucher payments
to bring the float back up to the imprest amount
$