Home For AAT student members AQ 2013 AAT Level 2 (Level 5 in Scotland)

Main Sales Ledger & Subsiduary Ledgers

MrKrisMrKris New MemberRegistered Posts: 6
Hi,

I'm doing a task on sales day books and sale returns day book where i have to transfer the data from invoices and credits notes.

I then have to complete a main sales ledger and subsiduary ledger for each entry.

I'm abit confused about how I set out the T account for the these sales ledger both main and subsiduary?

I am right in saying the all invoices produced (assuming they are paid in full) go into the credit side of the main T account and credit notes raised go on to debit side and vice versa for each subsiduary?

Thanks again!

Comments

  • crispycrispy Trusted Regular SouthamptonRegistered Posts: 456
    Hello,

    The sales invoices from the SDB and Credit Notes from SRDB should each be entered into the customers individual account (in the subsidiary ledger) on the Debit side (for invoices) or credit side (for credit notes).

    The totals only from the SDB and SRDB should then be transferred to the main ledger.

    Without giving the answer away can you see the correct entries for the main ledger using the Sales/Sales returns/VAT/Sales Ledger Control accounts? eg.

    Dr ??
    Cr ??
    Cr ??

    Being Sales Day Book

    Dr ??
    Dr ??
    Cr ??

    Being Sales Returns Day Book
  • MrKrisMrKris New Member Registered Posts: 6
    thanks for your help :o)
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