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each transaction separate books which
was made, i.e. cash, will record details of

credit card, cheque. all your sales and
Receipts are purchases – they can

entered on the left- be bought at any good

hand side and stationery shop. The

payments on the details you enter
Sales and purchase
right-hand side. should include the
ledgers You will
Due to timing – i.e. name of the party
need to keep sales
you issue a cheque involved and the total
and purchase
which is not paid in amount of the
ledgers if your
for over a month or transaction. Some
business is giving
more – it is further detail may be
or receiving credit.
unlikely that your required to show the
Nearly all business
cash book and bank amount of VTA
are invol-ved with
statement will included in the total
credit to some
agree on any one as well as identifying
degree.
day. It is therefore the items e.g. for a
The sales ledger is a
important that at sale in a china and
record of sales to
regular intervals, glass shop, the items your customers.

weekly or at least could be identified as You should have a

monthly, the book china-glass orna- separate page for

should be added up ments etc. For a each customer,

and reconciled with purchase in a detailing name,

your bank manufacturing busi- address and tele-

statement. ness the items could phone number, the

be identified as raw terms of trade, level

Sales day book and materials, pac-kaging, of total credit

purchases day book transport, etc. allowed the relevant

These are two credit controller (so

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