[joeyhg]

okie 🙂

[joeyhg]

going for FA2 in Jan 2014 🙂

[joeyhg]

sure 🙂

[joeyhg]

Hi, I think you need to be clear that:

1. In the General Ledger: (Double entry all done here)

There’s a “Payable Control Account” inside the General Ledger.
From the Purchase Day Book, we debit Purchase A/c (net purchase), debit Sales Tax A/c (sales tax amt)
and credit Payable Control Account (Gross Amt) in the General Ledger with the “total” posted from the Purchase Day Book.

2. Payable Ledger: (separate thing from the General Ledger) (Single Credit/Debit entry here)
After that, you also need to Credit the “Payable Ledger” (which is the memorandum account, supplier’s personal accounts),
with the “individual entries” (eg: invoice 123 from Supplier A $1000…and so on) into “Supplier A’s account.
Single Credit entry: Cr Supplier A $1000

Im currently studying FA1 too…going for the dec exam soon 🙂
Hope it helps!

Regards,
Joey

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