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By: joseph chalhoub

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Monday, 30-Apr-2012 09:20 Email | Share | | Bookmark
Types of daybooks

There are many types of daybooks. One such type of daybook is the sales daybook. This is used by bookkeepers Melbourne to record the daily sales of the business. Many businesses make sales everyday. This means that there ought to be recordings of sales of each and everyday. Sales are the value that the company gets in exchange of goods. It sells is the money that the organization gets from selling good or services or both. Sales are just raw figures and not calculated ones. Sales do not mean profit. It only means what one has sold. The work of calculating the profits of the organization is done by the accountant. These specific daybooks are used to record the sales of that day. One of the simple types of a sales daybook is the receipt. Receipt actually shows that the transition was made.
Another type of the daybook is the purchases daybook. Purchases daybook is used to record all the money that goes out of the organization. As opposed to the sales daybooks that are used to record money that the organization receives, purchases daybook only records the money that the organization spends to buy materials. Purchases daybook is important to the bookkeeper Melbourne because they help one give a conclusive book account to the accountants. Purchases daybooks fall in a category of expenses. As said earlier, purchases daybooks do not record every financial transaction that the organization gives out.
Another type of the day book is called cash daybook. Cash daybook is normally referred to as cash book. The cash book is usually used to record the money received to the business and the money that goes out. This means liquid cash. When the money is paid to the organization for various services, the transaction is recorded in a cash book. Whenever too there is a purchase of something and money is given out, the records are recorded in a cash book. It is important though not to confuse between a cash book and the daybooks or the purchase books. The daybooks may be split into the receipt cash book and the payment cashbook. For instance, money paid for the payroll services will fall under the payment cashbook.
Petty cash daybook is used to record petty cash paid with money. There are many activities that may require the money immediately. For instance, when a visitor visits the organization, he or she may be bought some drinks. The money that is used to buy the drinks is grouped as petty cash. This means that one should ensure that he or she get the right type of daybook when recording. Many petty cash transactions may lead to a serious calculating error during accounting. There is a need for one to ensure that the petty cash issue is well sorted.
Daybooks are separated to ease the accounting work. Because of this, one has to ensure that he or she gets the right daybook always. Bookkeeper Melbourne should not lose the accuracy while recording. This is what will help during the accounting process.


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