Probably obvious but hey

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Primble
Primble Registered Posts: 729 Epic contributor 🐘
in AAT Level 3 (Level 6 in Scotland)
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?

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  • louise
    louise Registered Posts: 49 Regular contributor ⭐
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    slca has the figure with vat included, and sales a/c has the figure with no vat included.

    hope this helps :)

    louise
  • crispy
    crispy Registered Posts: 468 Dedicated contributor 🦉
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    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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