Purchases journal
The purchases journal is a specialised accounting book used to record all credit purchases of goods intended for resale. It excludes cash purchases and asset acquisitions. This journal streamlines bookkeeping by consolidating similar transactions, allowing periodic posting to the general ledger under relevant accounts.
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Purchase Order
A purchase order is a formal document issued by a buyer to a supplier, confirming the purchase of goods or…
Petty Cash
Petty cash is a small fund kept on hand for minor or incidental expenses, such as office supplies or travel…
Provision
A provision is an estimated liability recorded when a business expects a future obligation from a past event but the…
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