SALES JOURNAL

SALES JOURNAL:

In this book are recorded all goods sold on credit. If there are cash sales they are recorded in cash book.

Sale of old assets is not recorded in this book.

Such transactions are passed through the journal proper

Invoice :

When goods are sold on credit.an invoice is given to the buyer, the seller generally has a bound invoice book.it contains consecutively numbered  invoices in duplicate. Original copy is given to the buyer and the duplicate remains in the book itself. The entries in the sales books are made with the help of the duplicate copies which are duly numbered.

DATE	NAME OF CUSTOMER	OUTWARD INVOICE	L.F	AMOUNT

1 The first column records the date of transaction

2 The second column sets out the name of the buyer and his address

3 Third column is written the number of the outward invoice number.

4 fourth column points out the page in the ledger where the buyer accounts is debited

5 The “ amount “ column specifies the net amount specified in the invoice.

POSTING :

The sales book is periodically totaled and the entries there from are posted to the ledger accounts under

Debit customers account with the individual amount against his name as To sales a/c with the date of sale

Credit sales account with the periodical total as By sundry debtors with the date when the book is totaled. is written the number of the outward invoice number.