What details must be included in each Book of Prime Entry?

Question 1

What details must be included in the Sales day book?

Answer 1

The date of transaction, invoice number, name of customer, customer code, total £ (gross amount), VAT £ (VAT amount), net £ (net amount).

Question 2

What details must be included in the Purchases day book?

Answer 2

The date of transaction, invoice number, name of supplier, supplier code, total £ (gross amount), VAT £ (VAT amount), net £ (net amount).

Question 3

What details must be included in the Sales returns day book?

Answer 3

Exactly the same as the Sales daybook except the invoice number, which instead would be the credit note number.

Question 4

What details must be included in the Purchases returns day book?

Answer 4

Exactly the same as the Purchases day book except the invoice number, which instead would be the credit note number.

Question 5

What details must be included in the Discounts allowed day book?

Answer 5

The date of transaction, name of customer, customer code, total £ (gross amount), VAT £ (VAT amount), net £ (net amount).

Question 6

What details must be included in the discounts received day book?

Answer 6

The date of transaction, name of supplier, supplier code, total £ (gross amount), VAT £ (VAT amount), net £ (net amount).

Question 7

What details must be recorded in a cash receipts book?

Answer 7

The date of transaction, description of transaction, total £ (gross amount), VAT £ (VAT amount), SLCA (a receivable), Cash sales £ (net amount).

Question 8

What details must be recorded in a cash payments book?

Answer 8

The date of transaction, description of transaction, total £ (gross amount), VAT £ (VAT amount), PLCA (a payable), Cash purchases (net amount).

Question 9

What does the left hand side and the right hand side of a Petty Cash book record?

Answer 9

The left hand side records cash receipts, whereas the right hand side records cash payments.

Question 10

What details must be included on the left hand side of a Petty Cash book?

Answer 10

The date of transaction, description of transaction, total £ (gross amount of cash receipt).

Question 11

What details must be included on the right hand side of a Petty Cash book?

Answer 11

The date of transaction, description of transaction, petty cash voucher number, total £ (gross amount), different types of expenses (for example postage £, staff welfare £, travel £, either net or gross amounts depending on whether transaction includes VAT or not), VAT (VAT amount).