Page 62 - Book-keeping for Secondary Schools Student’s Book Form One

Book-Keeping for Secondary Schools

(i) Date
Activity 4.9
This column is used to write the
Prepare a sample of journal voucher and date, the month, and the year of the
demonstrate how to fill it out. transaction. Generally, it shows when
the transaction took place.

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(ii) Particulars
Preparation of books of prime entry This column gives a short description
As per the accounting cycle or process of the entry for the transaction
introduced in chapter one; once transactions recorded. It records the name of the
are identified, they are entered in the books supplier and the details of the items

of prime entry, followed by posting the purchased.
entries to relevant ledger accounts. A ledger
is the main book of accounts in which (iii) Folio
different types of transactions are recorded. This column records pages of
reference in books of accounts. It
The posting is done by following the double indicates in what ledger and on what
entry system. In this section, you are going page the transaction has been posted.
to learn the four special journals and how

information from source documents is (iv) Invoice number
entered followed by the general journal. This column records the details of the
invoice number which identify the
Purchases daybook or purchases journal invoice received when a particular
When goods are purchased on credit, the transaction was made. This is helpful
seller will prepare and send an invoice for verifying or investigating errors

to the buyer. The buyer will record this in the records. It makes it possible
transaction in the purchases daybook to retrieve the invoices (which are
normally filed in a systematic manner)
because the transaction involves a credit and match with the figures recorded in
purchases, meaning that the buyer did not the books.
pay for the goods at the time of purchase.
Therefore, the purchases daybook is (v) Invoice details
used to record transactions relating to This column records the details of the
credit purchases of goods. Practically, invoice involved in the transaction,
entries made in the purchases journal and it is especially useful where an
are summed up periodically (For exmple invoice includes more than one type
monthly). of goods.
(vi) Invoice total
Format of the purchase daybook This column records the total amount
The purchases daybook has six columns of money being transacted. These
which are: columns are illustrated as follows:

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Student’s Book Form One

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