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Hi Mr John…
In what order do we record sales invoices…
Where is the information in receivables ledger taken from ?
Is it like ….First we record sales invoice in sales journal and at the same time record in receivables ledger as well?
Or We take daily information from sales journal to put into Receivables ledger?
How is information recorded actually?
Thank you…You really must watch the free lectures on Books of Prime Entry because I work through a full example recording in all the various books.
Invoices are first recorded in the sales journal (sales day book) – that is a Book of Prime Entry.
From that book, each individual invoices is copied into the Receivables Ledger.
The total of the sales journal is debited to the Receivables Account and credited to the Sales account in the nominal/general ledger (usually at the end of each month).
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