Bookkeeping of a Sole Trader: Journals (Grade 10 NSC Matric Accounting): Flashcards

Special record tracking payments by cheque/bank transfer

Subsidiary journal (book of first entry)

Source document reference (usually cheque number)

Total amount paid out from bank account

Income - a benefit to the business

Discount received

Amount creditor's account decreases (bank + discount)

Debtors control

Payments not fitting other columns (e.g. telephone, repairs)

Wages or salaries paid to employees