Acca financial Accounting (FA) Study Text ac ca (FA)

Double entry bookkeeping 

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KAPLAN PUBLISHING

 

Several books of prime entry exist, each recording a different type of 

transaction: 

Book of prime entry 

Transaction type 

Sales day book 

Credit sales 

Purchases day book 

Credit purchases 

Sales returns day book 

Returns of goods sold on credit 

Purchases returns day book 

Returns of goods bought on credit 

Cash book 

All bank transactions 

Petty cash book 

All small cash transactions 

The journal 

All transactions not recorded elsewhere 

The sum total of the day's transactions is recorded in the accounting ledgers of 

the entity. This is done in a 'double entry' format. This important concept will be 

explored in greater depth later in this chapter.