Accountancy: Purchase and Sales Book: Record the Transactions in the Books of Accounts (For CBSE, ICSE, IAS, NET, NRA 2022)

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Purchase and sales books are basically maintained to record the credit purchase/sales transactions in the books of accounts. Transactions are relating to purchasing good by cash are not recorded in the book, these are recorded only in cash book.

  • Entries in the purchases book are made from the invoices received from the suppliers.
  • Posting is done in the supplier՚s/loan account day by day from the buys book with their particular sums.
  • At the end of week/month, the total of the purchases book is debited to the purchases account in the ledger.
  • In ‘Particulars Column’ the suppliers name along with their details of goods purchased are recorded.
  • In ‘Details Column’ difference of the detail amounts of items are recorded whereas in ‘Amount Column’ the net number of various invoices is recorded.
Purchase Book
  • In the Sales Book, only credit sale of goods is recorded.
  • Sales Book is prepared on the basis of copies of invoice sent to customers.
  • To post sales book, the accounts of the customers are individually debited with respective amounts at the end of every month.
  • Sales Account is credited with the monthly total of the Sales Book.
  • In ′ Particulars Column, the name of the customers along with details of the goods sold to them are recorded.
Sales Book

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