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John Moffat.
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fizaali
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Sir, i watched your videos but i cannot understand what entries we should make in general ledger and journal?
Prime books are actually general ledgers whereas journal is a seperate book used but for what purpose?
Please explain?
John Moffat
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The books of prime entry are the books in which transactions are first recorded.
The double entries in the ledgers use figures taken from the books of prime entry.
The journal is used to record any unusual transaction that are not covered by the other books of prime entry such as (for example) the depreciation for the year.
fizaali
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