Book keeping accounting help appreciated?

I am me123

Anyone able to lend me some assistance on some book keeping questions I'd like cleared up.

What are the source documents for writing up the Accounts Recievable Ledger, Accounts Payable Ledger, Nominal Ledger and Trial Balance?

Anyone able to shed some light on the above? I'm really stuck! Thank you.

y0ssar1an22

the trial balance is the summary of all the individual nominal accounts...bank, payables, vat, insurance, sales, etc.

these individual nominal accounts are made up of the bank postings, purchase invoice, sales invoices, wage summaries.

very basically....

1. all purchase invoices: debit the correct code in the PL (insurance, advertising, etc) the net figure, debit vat control (if vat registered), and credit the appropriate trade payable gross amount.

2. sales: credit sales in PL net amount, credit VAT control vat if vat registered, debit the appropriate trade debtor.

3. bank payments: credit the bank, debit the appropriate trade creditor if it is the payment of an invoice. bank charges can go straight to PL (credit bank, debit bank fees in PL). wage payments should should go to wage control on balance sheet. tax payments should go to appropriate tax code on the balance sheet.


4. lodgements: debit bank, credit trade debtors, if the relate to a sale. other lodgements, you need to find out what they are.

5. wage summary: debit gross wage to PL, credit net wage on BS the net wage, credit PAYE control on the BS the taxes due. for employers PRSI: debit ER PRSI on PL and credit PAYE control on BS.


creditors listing: this will be a summary of the invoice posted in 1 vs the bank payments in 3.
debtors listing: sales from 2 vs lodgements from 4.

I am me123

Thanks for the info above.

What is the source document for the VAT summary and the above mentioned accounts?

y0ssar1an22

i presume the source document for the VAT summary, would be the VAT3's. Not really sure exactly what you're looking for.

accounts receivables: sales invoices and bank lodgements are the source documents.

payables: purchase invoices and bank payments (be they DD or cheques)

I am me123

Just in relation to the following accounts;
Accounts Recievable
Accounts Payable
Nominal

I have the following source documents;
Invoices
Credit Notes
Bank Statements
Bank Account Payments
Petty Cash

From the source documents above, which of the above accounts is each one to be entered?

Synode

I am me123 wrote: »

Just in relation to the following accounts;
Accounts Recievable
Accounts Payable
Nominal

I have the following source documents;
Invoices
Credit Notes
Bank Statements
Bank Account Payments
Petty Cash

From the source documents above, which of the above accounts is each one to be entered?

Give us your answer and we'll tell you if correct

I am me123

See below

I am me123 wrote: »

Just in relation to the following accounts;
Accounts Recievable Sales invoices, Sales Credit Notes, Receipts
Accounts Payable Purchase invoices, Purchase Credit notes, Payments
Nominal Your journals including to Control accounts such as Wages and accruals and prepayments

I have the following source documents;
Invoices See above
Credit Notes See Above
Bank Statements See Above
Bank Account Payments See Above
Petty Cash This can be treated as a bank account, but for smaller payments. Funded by cash receipts or bank withdrawals and paying for stamps, canteen supplies etc.

From the source documents above, which of the above accounts is each one to be entered?

Synode

Synode wrote: »

Give us your answer and we'll tell you if correct

Started a response before I saw your post...