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Sales Book
The sales book is used to record all credit sales of goods dealt with by the trader in his business. Cash sales, cash and credit sales of assets are not entered in this book. The entries in the sales book are on the basis of the invoices issued to the customers with the net amount of sale.
Format
i. Date Column – Represents the date on which the transaction took place.
ii. Particulars Column – This column includes the name of purchasers and the particulars of goods sold.
iii. Outward Invoice No. Column – Reveals the serial number of the outward invoice.
iv. L.F. Column – The page number of the customers accounts in the Ledger is recorded.
v. Details Column – Contains the amount of goods sold and the amount of trade discount if any.
vi. Total Column – This column shows the net amount which is receivable from the customers.
vii. Remarks Column – Any other extra information will be recorded.
Posting and Balancing
At the end of the month the individual entries and the total of the sales book column are posted into the ledgers as under.
Step 1 → Individual amounts are daily posted to the debit of Customers’ Accounts by writing “To Sales A/c” in the particulars column.
Step 2 → Grand total of the sales book is posted to the credit of sales account by writing “By Sundries as per Sales Book” in the particulars column.
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