Probably obvious but hey

PrimblePrimble Experienced MentorPosts: 734Registered
I'm doing a unit 5 practice test and am confused about SLCA. on the debit side it's ment to have a figure from sales per sales day book. is that just cash received from customers in cash book?

Comments

  • louiselouise Feels At Home Posts: 49Registered
    slca has the figure with vat included, and sales a/c has the figure with no vat included.

    hope this helps :)

    louise
  • crispycrispy Trusted Regular SouthamptonPosts: 456Registered
    Hello,

    In the SLCA the debit side will not contain amounts received from customers this will go on the credit side of the control A/c. eg when an amount has been received from a credit customer the journal is:

    Dr Bank
    Cr SLCA

    When a Credit Sales Invoice is raised:

    Dr SLCA (Gross Amount)
    Cr VAT
    Cr Sales (Net Amount)
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