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Need alittle helping tip :)

SakutoraSakutora Just JoinedRegistered Posts: 2
in General AAT student discussion
Ok i am getting alittle confused help me out with what is going on here.

1.Sales
Vat
Sales ledger control

2.Sales ledger control
Sales
Vat

Now i have been trying to understand why is entry 2 different from entry number 1 but then again it's the same for the sales returns. To be honest also i have not seen any purchases of any form entered like that.

Can someone tell me why this is please thank you.

Comments

  • bumblebeebumblebee Well-Known Registered Posts: 135
    Sakutora wrote: »
    Ok i am getting alittle confused help me out with what is going on here.

    1.Sales
    Vat
    Sales ledger control

    2.Sales ledger control
    Sales
    Vat

    Now i have been trying to understand why is entry 2 different from entry number 1 but then again it's the same for the sales returns. To be honest also i have not seen any purchases of any form entered like that.

    Can someone tell me why this is please thank you.

    I believe you are asking about double entry:

    Dr Sales Ledger Control
    Cr Sales
    Cr VAT
  • jewels.pjewels.p Font Of All Knowledge Registered Posts: 1,774
    DEAD-CLIC - Debit Expenses, Assets, Drawings - Credit, Liabilities, Income, Capital

    There is another acronym that people use but I cant remember it just now.

    I used acronyms a lot when trying to get to grips with Debits and Credits.
  • A-VicA-Vic Expertise Guaranteed Registered Posts: 6,970
    http://forums.aat.org.uk/showthread.php?t=28719&highlight=pearls
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