Chapter 6 Bank transaction Flashcards
What do you recieve from suppliers?
The statement of account
What do you check the statement of account with?
Your purchase ledger
How do you check the goods and goods returned?
check goods with debit side and goods returned with credit side
what are goods?
its an invoice
what are good returns?
its a credit note
What is Bank?
It what they paid (Look out for the bank especially in a particular exercise)
What do you have to minus?
The credit notes
Do you use the paid or not paid side?
The paid side
What would the date be for the monthly exercise?
They tell you the date so read carefully
How do you get your amount on the monthly exercise?
You add up all the months together if all are invoices but you minus the credit notes
What to do with the not paid or not located ones?
A good thing to do is to highlight them?
