RECORDING OF TRANSACTIONS

LEARNING OBJECTIVES

• After studying this chapter, you will be able to :
• explain how to Prepare accounting vouchers;
• apply accounting equation to explain the effect of transactions;
• record transactions using rules of debit and credit;
• record transactions in journal and other subsidiary books;

Suggested Methods : Discussion method, Illustration method, Problem solving method etc.

Source Document :

A document which provides evidence of the transactions is called the Source Document such as Cash memo, Invoice etc. At times, there may be no documentary proof for certain items in such case voucher may be prepared showing the necessary details and it must be approved by appropriate authority. All recording in books of account is done on the basis of Voucher.

Classification of Accounting Vouchers :

Vouchers	Further classification	Purpose
Cash Vouchers	Debit Vouchers Credit Vouchers	To show Cash Payments To show Cash Receipts
Non Cash Vouchers	Transfer Vouchers	To show Transactions not involving cash

Debit Voucher :

This voucher is prepared for all the cash payments made by the business e.g. Payment of Salary, Purchses of Goods and services, Payment made to any Creditor etc.

Format of Debit Voucher

Credit Voucher :

This voucher is prepared by the business in case of cash receipt from any source such as Sale of goods for Cash, Payment received from any of Debtors, Income received etc.

Format of Credit Voucher

Transfer Voucher / Non-Cash Voucher :

This type of vouchers are prepared in those transactions which do not involve Cash. Such as Credit Sales, Credit Purchases, Bad Debts, Depreciation charged etc.

Format of Transfer Voucher

 

CBSE Accountancy Class XI ( By Mr. Aniruddh Maheshwari ) 
Email Id : [email protected]