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 journals, [...]

So long as a business pays on delivery for everything it buys the purchases account or accounts could be written up from the entries in the cash paid book or the cash paid side of a single cash book. Where purchases are obtained on credit it is necessary to operate a separate book of prime [...]