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Books of Prime Entry and Ledgers

4 dot points across 4 inquiry questions. Click any dot point for a focused answer with worked past exam questions where available.

Where do the totals and entries from the journals end up, and how are the ledgers divided?

Post from the books of prime entry to the sales, purchases and general ledgers
A simple answer to the N(A)-Level Principles of Accounts outcome on posting to the ledgers. The three ledgers, how journal totals and individual entries are posted, and why the ledger is divided this way.
8 min answer →

Which document proves each transaction, and what does it tell us to record?

Identify common source documents and state which book of prime entry each one is recorded in
A simple answer to the N(A)-Level Principles of Accounts outcome on source documents. The invoice, credit note, receipt, cheque counterfoil and others, what each one proves, and the book of prime entry it leads to.
8 min answer →

How does one book record both cash and bank, and where does discount fit in?

Write up a two-column cash book recording cash and bank receipts and payments, with discount columns
A simple answer to the N(A)-Level Principles of Accounts outcome on the cash book. How the two-column cash book records cash and bank together, how receipts and payments are entered, and how the discount columns work.
9 min answer →

How do we list transactions before they reach the ledgers, and why do we bother?

Write up the sales, purchases and returns journals and the general journal, and total them
A simple answer to the N(A)-Level Principles of Accounts outcome on the journals. What the sales, purchases and returns journals and the general journal are for, how to write them up, and how their totals are used.
9 min answer →