Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Source of documents to extract information into the receivables/payables ledgers
- This topic has 3 replies, 2 voices, and was last updated 8 years ago by
John Moffat.
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- April 24, 2016 at 4:51 am #312427
Dear Sir,
If information is taken directly from invoices and posted in personal accounts, then errors from sales/purchases day book will apparently not affect personal accounts. Otherwise, if figures are taken from day books, then they will.
So, if the question is “Does an error in sales day book (or purchases day book) affect the list of personal receivable (or payable) account balances?”, what would be the answer?
Thank you!
April 24, 2016 at 9:02 am #312453You have answered your own question!
The figures in the personal ledgers are taken from the day books (unless obviously the question said different) and therefore if an invoice is entered wrongly in the day book then the personal account will be wrong.
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April 24, 2016 at 3:19 pm #312498Thank you, Sir! 🙂
April 25, 2016 at 6:23 am #312565You are welcome 🙂
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