Prime Entry

Returns Outwards Book
A Returns Outwards Book, also known as the Purchase Returns Book, is a book of prime entry utilized to record any returns of goods to suppliers. It ensures systematic tracking of returned items, allowing accurate updates to individual creditor's accounts and overall accounting records.
Sales Day Book
A Sales Day Book, also known as a Sales Journal or Sold Day Book, is an essential accounting record used to document invoices issued to customers for goods or services provided by an organization.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.