L4 Agribusiness Presentation 3 Unit 1 hlayiso.com .2 hlayiso.com

AGRIBUSINESS L4 PRESENTATION 3 SEFIKENG CAMPUS Downloaded from hlayiso.com

A SIMPLE COMPUTERISED ACCOUNTING SYSTEM –SO 1.1 –LO 1.1.2 Downloaded from hlayiso.com

UNIT 1.2 A SIMPLE COMPUTERISED ACCOUNTING SYSTEM – A business must ensure that its accounting system includes details of every single transaction. It is however, very unlikely, even in small organization to record all transactions in a single journal. – Organizations normally maintain numerous journals to record similar types of transactions separately(Books of prime entry) – In our next presentation we going to go in details with the Advantages and Dis advantages of BOOKS OF PRIME ENTRY. Downloaded from hlayiso.com

UNIT 1.2 A SIMPLE COMPUTERISED ACCOUNTING SYSTEM – BOOKS OF PRIME ENTRY: CASH(Analysis) book Petty cash book Purchase journal Sales journal Journal Downloaded from hlayiso.com

UNIT 1.2 A SIMPLE COMPUTERISED ACCOUNTING SYSTEM – Why are they called Books of prime entry?  The sub-division of journal is called BOOK of original Entry or books of prime entry or day books.  The word journal is derived from the French word “Jour” which means “day”, so journals are known as day books due to the fact that transactions are recorded on daily basis Downloaded from hlayiso.com

UNIT 1.2 A SIMPLE COMPUTERISED ACCOUNTING SYSTEM – FUNCTIONS of BOOKS OF PRIME ENTRY:  CASH(Analysis) book: to record transactions with the bank  Petty cash book: to record minor cash transactions  Purchase journal: to record credit purchases  Sales journal: to record credit sales  Journal: to record non-repetitive transactions Downloaded from hlayiso.com

UNIT 1.2 A SIMPLE COMPUTERISED ACCOUNTING SYSTEM – A business must ensure that its accounting system includes details of every single transaction. It is however, very unlikely, even in small organization to record all transactions in a single journal. – Organizations normally maintain numerous journals to record similar types of transactions separately(Books of prime entry) – In our next presentation we going to go in details with the Advantages and Dis advantages of BOOKS OF PRIME ENTRY. Downloaded from hlayiso.com

Thank you Moshodi M.L Downloaded from hlayiso.com