What is sale book?
Similarly, what is a sales day book example?
sales day book. a book in which non-cash sales are recorded with details of customer, invoice, amount and date; these details are later posted to each customer's account in the sales ledger.
Also Know, what is the purpose of sales day book? The sales journal, sometimes referred to as the sales day-book, is a special journal used to record credit sales. The sales journal is simply a chronological list of the sales invoices and is used to save time, avoid cluttering the general ledger with too much detail, and to allow for segregation of duties.
Also Know, what is purchase book and sales book?
Sales Book: Sales Book (also known as Sales Day Book or Sales Journal) is one of the subsidiary books which is used for the purpose of recording the sale of merchandise (goods purchased for resale) on credit. It records neither the cash sale of the merchandise nor sale of any asset other than merchandise.
What is contra entry?
Contra entry is a transaction which involves both cash and bank. Both debit aspect and credit aspect of a transaction get reflected in the cash book. For example: Cash received from debtors and deposited into bank. Cash withdrawn from bank for office use.