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Sir,
I’ve 4 questions please. (I’ve watched your free lecture)
1) Is books of prime entry/books of original entry the same thing ?
2) Are the all “books of prime entry” are just the notes except for the cash day book?
3) If the answer of (2) is NO, then which books are strictly the part of “Double entry Book Keeping”.
4) Are the “Control Accounts” part of the “Double Entry Books” ?
Thanks in advance sir.
1. Yes – they both mean the same 🙂
2. Yes (although we don’t really call them just notes, because they need to be kept :-)).
Also, the cash book is usually a ‘note’ as well. The cash account will be in the nominal/general ledger just showing the totals from the cash book.3. The actual double entry is all done in the accounts in the general/nominal ledger. The figures entered are taken from the books of prime entry.
4. Yes they are, and they are in the general/nominal ledger.
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