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Under the double – entry system each transaction necessitates two entries, one un a subsidiary book and one in the ledger. With the use of manual posting equipment these two entries can be performed at one writing. The method to be adopted is as follows. The sales journal sheet and carbon paper are placed on [...]

The sales accounting system indicated in the previous paragraph is relatively easy to inaugurate since the sales invoice originates in the firm and can be suitably designed for the purpose; also a routine can be introduced to facilitate its adoption. When the purchase journal is being considered, other factors must be borne in mind. For [...]

It has been stated in post before that the purpose of sales and purchases journals is to provide a medium from which the accounts of customers and suppliers can be posted. And also to provide totals for the various sales, purchases and materials control accounts. If these are the sole reasons for keeping the [...]

Manual Methods
It will have become apparent that in the accounting department there is a large amount of routine work to be performed. Cash accounting must be strictly controlled, and the various day books and ledgers must be entered. In a small business it may be possible for the proprietor to make the necessary entries day [...]