Team Members Ashish Kumar Gagandeep Kaur Inderpreet Kaur Jasminder Singh

Subsidiary books are the book of original entry and it is also called primary records because the first entry of transaction is made in subsidiary books. On the basis of subsidiary books postings are made into concerned account afterwards.

posting of each entry becomes easy. as one type of transaction are recorded in one books so it becomes convenient to locate any desired transaction. important descriptions about the transaction is also made in the related books so a lot of information related to the transaction is easily accessible.

they may be expensive in case of a small business as in a small business it is best to keep journal. it requires some basic knowledge of accountancy as if any of the entries are recorded incorrect then it will be a problem or they need to be rectified.

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Purchase book Sales book Cash book Purchase return book Sales return book Bills received book Bills payable book

This book is used for recording goods purchased on credit. also known as invoice book, bought book or purchased journal. It is not necessary to record the transaction in the journal book where they are entered in the purchases book.

Date

Particular

Invoice No.

L.F Amount

Sales book is used for recording goods sold on credit. The record in sales book is made from the outward invoice book which contain the exact copy of each invoice sent out to the customers.

Date

Particular

Outward Invoice no.

L.F

Amount

The book used for recording goods return for the seller is called "Purchase Return Book". Also known as return outwards Books. While retuning goods buyer prepares debit note.

Date

Particulars L.F

Debit Amount Notes

It is a book used for recording goods returned by the buyer. Also known as returns inward book While keeping records in sales return books sellers prepares a credit note.

Date

Particular

L.F.

Credit Amount Note

To record cash transaction, separate book is kept which is called Cashbook. The function of cashbook is to keep records of all cash transactions. Cashbook takes the place of cash account that is it is not necessary to open separate cash account in the ledger after keeping record in the cashbook.

Simple cash book. Double column cash book. Triple Column cash book. Petty Cash book

prepared like cash account in ledger. All the cash received are entered in amount column on debit side and all cash paid appear on credit side in amount column. Cash book is closed and balanced at the end of the month.

Date

Particular L.F.

Amount

Date

Particular L.F

Amount

A cashbook with discount column is called double column cashbook. Two accounts, cash and discount are combined in this book. Discount allowed to the customers represent loss.

Date Particular L.F Discount Amount Date Particular L.F Discount Amount

A cash book with discount and bank column is triple column cashbook. Three accounts are combined. In business firm most of the payment are received and paid by cheque. Transactions are preformed through bank.

Date Particular L.F Discount Amount Bank Date Particular L.F Discount Amount Bank

Used to record small amount of expenses.

Like stationary, cleaning charges and postage.

Date Particulars Amount Date

Particular s

Amount

bills receivable book is used to record the bills received from debtors. When a bill is received, details of it are recorded in the bills receivable book. In the ledger the account of the person from whom each bill is received is credited with the amount of that bill and the periodical total of the book is posted to the debit of bills receivable account.

Date

From whom received

Term

Due date

L.F.

Amount

Bills payable book is used to record bill accepted by us. When a bill drawn by our creditor is accepted particulars of the same are recorded in this book. In the ledger, the account of each person whose bill has been accepted is debited with the amount of the bill. The monthly total of the bills accepted is credited to the bills payable account ledger.

Date

To whom given

Term

Due date

L.F.

Amount

Bills payable book. Bills receivable book. Triple column cash book. Four column cash book.

Four Five Three Two

8 7 9 6

Cash Book Return Book Bills Payable Book Sales return book

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Date Particular L.F Credit Notes Amount

Cash book Sales Return Book Bills payable book Purchase book

Sales book Simple cash book Purchase book Purchase return book

Sales return book Bills payable book Purchase return book Bills receivable book

Petty cash book Cash book Single column cash book Triple column cash book