{"id":8736,"date":"2013-02-28T11:20:14","date_gmt":"2013-02-28T11:20:14","guid":{"rendered":"http:\/\/vskills.in\/certification\/tutorial\/?p=8736"},"modified":"2024-04-12T14:14:28","modified_gmt":"2024-04-12T08:44:28","slug":"types-of-purchases-book-2","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/types-of-purchases-book-2\/","title":{"rendered":"Business Accountant Tutorial | Purchases book"},"content":{"rendered":"\n
\"purchase<\/a><\/figure><\/div>\n\n\n\n

Go back to Tutorial<\/a><\/p>\n\n\n\n

Purchases book<\/strong><\/h3>\n\n\n

It is a book of original entry maintained to record credit purchases. You must note that cash purchases will not be entered in the purchases day book because entries in respect of cash purchases must have been entered in the cash book. At the end of each month, the book is totaled. The total shows the total amount of goods purchased on credit. It is written up daily from the invoices received. The invoices are consecutively numbered. The invoice of each number is noted in the book.<\/p>\n

Ruling<\/strong><\/h4>\n

It is not ruled like the ordinary journal. The first column in this book is for the date. In the second column, the name of the supplier or the seller, the quantity of each article bought, description of the article, rate, etc., are recorded. Sometimes a separate column to record the details of the transactions is added in the book. The third column is for the invoice number. The fourth column is for ledger folio. The last column gives the total amount to the supplier.<\/p>\n

Posting<\/strong><\/h4>\n

The total of the book is posted to the debit of the purchases account. Names of the suppliers appear in the book with the number of goods supplied. The suppliers are therefore credited with the amount appearing against their respective names. The double entry will then be completed.<\/p>\n

\u00a0<\/p>\n

\n

\"certified<\/a><\/h3>\n<\/div>\n\n\n

Go back to Tutorial<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Go back to Tutorial Purchases book It is a book of original entry maintained to record credit purchases. You must note that cash purchases will not be entered in the purchases day book because entries in respect of cash purchases must have been entered in the cash book. 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