Basic Bookkeeping Records

The Basic Bookkeeping Records you require
The bookkeeping records required in any business are the journals (both Purchase and Sales Journals), the Cash Receipts Book and Cash Payments Book (Cash Book), the General Journal, Debtor's Ledger, Creditor's Ledger and General Ledger.

Note: GST as it applies to some countries are used in the following examples. The corresponding tax for your country may be VAT or Sales Tax or other etc.

Purchases Journal
This records the amount of every suppliers invoice and the expenditure related to that invoice. This is then posted to the appropriate accounts in the General Ledger. The details of the suppliers are posted to the suppliers account in the Creditor's Ledger.

Sales Journal

This journal records the value of every sale made by the business and the details of who the sales have been made to. It can also include an analysis of the sales by product or territories etc which would be useful to the b...

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