Purchases day books
From a pile of supplier invoices to the ledgers: write up the purchases day books, post them, and record a discount for paying early.
See the first roomHow to write up a purchases day book with VAT
Rooms in this module
How this works
Each room answers one problem. A task is a few lines of reading, then questions you answer in the books: post to an account, type a figure, sort, match or write a journal. Every answer is marked at once, with the rule behind it. There are no videos.
Words in this module
- Day book
- A day book is a book of prime entry that lists credit sales or credit purchases, one line for each invoice.
- Prompt payment discount
- A prompt payment discount is offered to a customer for paying early. It is only earned if the customer does pay early.
- Purchases ledger
- The purchases ledger holds one account for each credit supplier. It shows who the business owes money to, and how much.
- Trade payables
- Trade payables is the money a business owes its suppliers for goods bought on credit. It is a liability.
Questions
How many rooms and questions are in Purchases day books?
5 rooms and 45 questions. Every question is marked at once.
How long does it take?
About 42 minutes in all. A room takes 8 to 9 minutes, so you can do one at a time.
Is it free?
No. These rooms need Premium. Each room shows the start of its first task before you pay.
What should I do first?
Sales day books. It is the module before this one in Business documents and transactions.