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rob


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Cash Book Question....
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Hi. 

Hope this is in the right place.

The task im currently doing in my training is asking me to create a cash book, sales book, purchase book and vat return for a business.
It supplies the blank documents, i have to put in the figures.

On the cash book the columns are :

CASH IN

DATE / DESCRIPTION / INVOICE NO. / BANKED / CHEQUE / CASH / SALE DAY BOOK / OTHER.

What goes in the "sale day book column" ?

Also, other books ive used have a column for vat and a column for net. Without these columns should i put in the gross total including vat or work it out without the vat first?
So, for example if i get a payment for £176:25 by cheque should i enter £176:25 in the CHEQUE column, but where do i show the vat?

Sorry to go on, thanks in advance.

Rob

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Lynn07


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Hi Rob

I think you need to enter the total gross amount being received from debtors in the sales day book column in the cash book. These are amounts being received from debtors for outstanding sales invoices. I'm guessing that the VAT is being calculated in the Sales day book hence there being no VAT column. It would be the same procedure for purchase ledger payments.

Lynn

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