Single Column Cash Book: Learning Objectives: Define and explain single column cash book. Prepare a single column cash book. Definition and Explanation: Single column cash book records only cash receipts and payments. It has only one money column on each of the debit and
Journal is the recording of business transactions that occurred daily. Journal records the transaction in chronological order. As soon as transaction occurs it is recorded in Journal.
Sales Returns Book: Learning Objectives: Define and explain sales return book. What is a credit note? Prepare a sales returns book and post into ledger. Definition and Explanation: Sales returns book is also called returns inwards book. It is used for recording goods returned
Sales Day Book: Definition and Explanation: A sales book is also known as sales day book is a book of original entry in which are recorded the details of credit sales made by a businessman. Total of sales book shows the total credit sales
Difference Between Ledger and Journal: Learning Objectives: What is the difference between ledger and journal? The journal and the ledger are the most important books of the double entry system of accounting. Following are the points of difference between these two types of books:
Journal: Learning Objectives: Define and explain journal. What are characteristics of journal? What are its advantages and how a journal is prepared? Definition and Explanation: The word “journal” has been derived from the French word “jour”. Jour means day. So journal means daily. Transactions