SALES BOOK OR SALES JOURNAL
DIFFERENCE BETWEEEN SALES BOOK OR SALES JOURNAL
|
Date |
Particulars |
Invoice |
L.F. |
Details |
Sale
value ₹ (6) |
Output |
Output |
Output |
Freight |
Total |
|
|
|
|
|
|
|
|
|
|
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Sales
Book or Sales Journal is a Subsidiary Book or special Journal in which credit
sales of goods dealt in by the firm are recorded. Cash sales are recorded in
the Cash Book and not in the Sales Book. Also, credit sales of items other than
goods dealt in by the firm (e.g., sale of assets) are not recorded in the Sales
Book, they are recorded in Journal Proper. Entries in the Sales Book are on the
basis of invoices issued to the customers with the net amount after trade
discount and charging GST.
Features of Sales Book:
1.
Credit sales of goods dealt in are recorded in the Sales Book.
2. Credit sales of items other than goods traded in or sale of finished goods
by the firm (e.g., sale of assets) are not recorded in the Sales Book, they are
recorded in Journal Proper.
3. Cash sales are not recorded in the Sales Book since these are recorded in
Cash Book.
4. Entries are recorded on the basis of invoices.
Ruling of Sales Book or Sales Journal : The ruling of Sales Book is shown
below:
SALES BOOK OR SALES JOURNAL
Entries in the Sales Book are recorded in the same manner as in the Purchases
Book i.e. the particulars column will record the name of the customers to whom
goods have been sold on credit. Entries in the Sales Book are written as
follows:
1. Date: The date of transaction is
written.
2. Particulars: The name of the
purchaser of goods is written along with the description and quantity of goods.
3. Invoice No.: Invoice number of
goods sold is written.
4. Ledger Folio (L.F.): At the time
of entries being posted into Ledger Accounts, the page number of the ledger is
written.
5. Details: The amount in respect of
each article is written. If trade discount is allowed to the purchaser of
goods, it is deducted from the gross amount. Thereafter, GST (IGST or CGST and
SGST) is charged
6. Sales Value: The value of sales
of the goods is written in this column.
7. Output CGST: The amount of CGST
charged on intra-state (i.e., within the state) sales is written.
8. Output SGST: The amount of SGST
charged on intra-state (i.e., within the state) sales is written.
9. Output IGST: The amount of IGST
charged on inter-state (Le., outside the state) sales is written.
10. Expenses: The expenses towards
freight, cartage and/or packing material, etc., charged from the customer are
written.
11. Total: The amount of invoice
including GST (IGST or CGST and SGST) charged and expenses is written.
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