Accounting Principle

Purchases Return Book This book is used to record all returns of goods by the trade to the suppliers. The entries in the Purchases Returns…

Format of Sales Book Sales book is used to record the credit sales of goods simply. It means only credits sales of products or goods…

Sales Book is an account book in which you record all sales of goods on credit. It is used to record all credit sales of…

Returns Books are those books in which the goods returned to the suppliers and goods returned by the consumers are recorded. The reasons for the…

Purchase book is an exceptional function secondary book organized by a business to record all credit purchases. It is a particular journal used by businesses…

Difference between cash discount and trade discount Trade discount differs from cash discount in the following respects. Trade Discount Parties: It is a reduction granted…

Posting and Balancing in Accounting Journal After journal entries are complete the subsequently step in the accounting phase is to post the journal entries into…

Trade Discount A trade discount is an amount by which the price of something is reduced for a person or business in the same trade.…

Purchases Book Purchases book also known as Bought Day Book is used to record all credit purchases of goods which are intended for resale in…

Advantages of Subsidiary Books Subsidiary Books helps to save time and labor by recording a similar type of transactions in a separate book. These books…