Double Entry Example
In this example the following will be used:
Books of prime entry (Books of original entry)
- Sales Invoice Daybook (records customer invoices)
- Bank Receipts Daybook (records customer & non customer receipts)
- Cash book
- Return inwards day book
- Return outwards day book
- Purchase Invoice Daybook (records supplier invoices)
- Bank Payments Daybook (records supplier & non supplier payments)
The books of prime entry are where transactions are first recorded. They are not part of the double-entry system, but may be expanded by the computer as a debit to one account and a credit to another account. For example, a cash receipts transaction may cause a debit (increase) to a cash account and a credit (decrease) to an accounts receivable account.
Ledger Cards
- Customer Ledger Cards
- Supplier Ledger Cards
- General Ledger (Nominal Ledger)
- Bank Account Ledger
- Trade Creditors Ledger
- Trade Debtors Ledger
Read more about this topic: Double-entry Bookkeeping System
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