FRA how to deal with Sales day books
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Hi,
im stuggling with revision! (as you can tell!!)
When bringing the sales day book figures down to the sales ledger control account; do you take the net figure, or the gross figure including VAT?
im stuggling with revision! (as you can tell!!)
When bringing the sales day book figures down to the sales ledger control account; do you take the net figure, or the gross figure including VAT?
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Re:FRA how to deal with Sales day books
Hiya,
From your Sales Day Book book you would post the gross amount as a Debit to the Sales Ledger Control A/c. The journal would be as;
Dr SLCA (Gross)
Cr VAT A/c
Cr Sales A/c (Net)0