Simulation Income & receipts

Janet101Janet101 Just JoinedRegistered Posts: 3
Hi Everyone,

Hope someone can help, I have been doing the AAT foundation for just over a month and have been doing ok but we are going to be doing are first simulation soon on Income & receipts which is ok until you come to posting the totals in the relevant ledgers, I am just not getting it where to post and debits & credits etc, when I asked the lecturer he just said it always tells you but obviously it doesnt.

Could anyone explain please.



  • lauradlaurad Feels At Home Registered Posts: 49
    hi janet,

    can you be a bit more specific about what your trying to post?

    the way i remember it when i did foundation was your Sales Day book totals always went DR, CR, CR, CR

    when you have totalled the day book, it will probably ask you to enter into the boxes whether its a debit or credit entry into the ledgers. the total of sales day book is always a debit and the rest of the breakdown are credits (ie. the corresponding entries to that total)

    for eg. TOTAL - £500 - Debit
    SALES - £425.53 - Credit
    VAT - £74.47 - Credit

    Total debits = £500 and total credits = £500

    You can then use this to work it the other way for purchases. So if the total of sales day book is always a debit followed by credits for its breakdown, the purchase day book total will be a Credit with debits for its breakdown.

    Once you have entered into the boxes in the day books if its DR or CR, you then literally just post as per the day book. Sometimes, if i recall correctly, they will give you some of the boxes already filled in

    Does that help? i always found it easy to remember it like this x
  • welshwizardwelshwizard Trusted Regular South WalesRegistered Posts: 465
    Hope the attached helps - it helped my students see more clearly. Give me a shout if you need more help.
  • Janet101Janet101 Just Joined Registered Posts: 3
    Thank you welshwizard, I am about to go and do my unit 1 simulation and this has really helped.
  • LilyflowerLilyflower Feels At Home Registered Posts: 54
    Remeber the golden rule - Whatever you do to the Ledger Control Account, you must do onto the sub ledger!!

    Lily xxxxxxxxxxxxxxxxxx
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