What Is the Importance of Ledger Posting from Purchases Book?
Ledger Posting is an essential part in Accounts to keep the final records of a business transaction. These records can be filled directly after getting a transaction or it can be placed from the journal. Thus, to understand the complete action of Ledger Posting from Purchases Book, assignments are provided by your expert. Each student should go through these assignments and if he is unable to complete it due to any reason as lack of time or improper knowledge, then come and take our services of Ledger Posting from Purchases Book assignment help just by clicking on 24x7assignmenthelp.com.
What do you mean by purchases book?
This term is important for bookkeeping. Each transaction has some particular motto. The main motto of Purchases book records is keeping records of credit purchases. All transactions of purchases made through credit are kept in this book. Sometimes deals and other different services are taken through credit. This is a non cash transaction.
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What is an exact meaning of Ledger Posting from Purchases books?
Purchases books are related to credit, but cash books are related to cash transactions. Ledger Posting is essential and keep all records of cash books as well as purchases books. However, when the total amount is there to show for purchases book, then it must be the records of those people who have taken the services on credit. The ledger posting can be done through journals, purchases books, sales books, and cash book. The format in each case is a bit different, and thus their meaning and motto also differs.
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What are the important points for Ledger Posting from Purchases Book?
Each one should understand about these following points for ledger posting from purchases books –
- Each purchase bill needs to be credited to the ledger account of the supplier.
- Whatever will be the total like purchase total, taxes and others need to be posted to the related ledger account.
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