Purchase day book
The purchases day book lists credit purchases of goods for resale from supplier invoices. The book acts as a list of source documents before posting: individual amounts go to supplier accounts and totals are posted to the relevant general-ledger accounts. Treatment of tax is recorded separately where it is recoverable. Check invoice details before posting. Returns of goods previously bought on credit are analysed in the purchases returns book.
Worked example
Credit inventory purchases of 500 are entered and posted to supplier and control accounts.
Common mistake
Cash purchases and purchases of non-current assets are not normally entered in this book.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | F1 | Supporting | July 2027–August 2028 |
| ACCA | F2 | Supporting | July 2027–August 2028 |
| ACCA | FA | Direct | September 2026–June 2027 |
| ACCA | K1 | Supporting | July 2027–August 2028 |
| CIMA | BA3 | Direct | Official assessment-window verification pending |
| FIA | FFA | Direct | September 2026–June 2027 |
