How a Transaction Flows - Accounting Review PDF
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Summary
This document is a diagram outlining the flow of transactions within an accounting system. It explains the classification of transactions like sales and purchase invoices, and how these are recorded in sales, purchase returns, and general journals. Entries are then made into different ledgers.
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Here is the markdown conversion of the document: # How a transaction flows! (Review for The image shows a diagram detailing how transactions flow through accounting systems. It has the below headings: Transactions: * Sales invoice * Purchases invoice * Credit Note * Debit Note * Receipt...
Here is the markdown conversion of the document: # How a transaction flows! (Review for The image shows a diagram detailing how transactions flow through accounting systems. It has the below headings: Transactions: * Sales invoice * Purchases invoice * Credit Note * Debit Note * Receipts and cheque Stub Classification: * Credit Sales * Credit Purchases * Sales Returns * Purchase Returns * Cash Receipts and Payments * Other transactions Entries in Journals: * Sales Journal * Purchases Journal * Sales Returns Journal * Purchase Returns Journal * Cash Book * General Journal Entries in Ledgers: * Sales ledger * Purchase ledger * General Ledger Test)
