Chapter Three- The Books of Prime Entry Flashcards
Analysed Sales Day Book
A sales day book where the net amount is analysed into the different types of sales for each invoice
BACS
‘Bankers Automated Clearing Service’- an automated payment method
Books of Prime Entry
The books in which the details of the organisation’s transaction are initially recorded, using details from business documents
Cash Book
The book of prime entry in which all receipts and payments by the business are recorded
Cash Book- Credit Side
The part of the cash book in which payments are recorded
Cash Book- Debit Side
The part of the cash book in which receipts are recorded
Day Books
Another name for books of prime entry
Purchase Day Book
The book of prime entry where all the supplier invoices received by the business are listed
Purchase Ledger
Records that contains ledger accounts for every credit supplier
Purchase Returns Day Book
The book of prime entry where al the credit notes received by the business are listed
Sales Day Book
The book of prime entry where al the business’ invoices sent to credit customers are listed
Sales Ledger
Record that contains ledger accounts for every credit customer
Sales Returns Day Book
The book of prime entry where all the credit notes issued by the business are listed
