Details about manual accounts
2006-11-22 06:04:31 · 3 answers · asked by angelahughes72 1 in Education & Reference ➔ Higher Education (University +)
Dr = Debit, Cr = Credit. TB = Trail Balance.... what exactly do you need to know. Double Entry Manual Accounting was devised by the Venetians and adopted in the UK way back in Victorian times. Most important book.. the Cash Book... a reflection of the bank account, records revenue inwards and payments outwards.. Ledgers, types of accounts, etc etc.... There is just not enough time of space to write here about manual accounting. It was the process used prior to computers (and the stuff I had to learn!)... there are multitudes of books on the subject that can be found in good bookshops, on-line and in the library.. but if you are having real problems e-mail me.
2006-11-22 06:13:27 · answer #1 · answered by Boring Old Fart 3 · 0⤊ 0⤋
A manual accounting system consists of journals and ledgers. For instance you may have a sales journal, purchasing journal, cash receipts journal and general journal. You might also have an account receivable ledger, accounts payable ledger and general ledger. All transactions start as an entry into the appropriate journal and subsidiary ledgers like AR and AP. At the end of the day you total the amounts posted in each journal by account and post that amount into the general ledger. That in a nutshell is how a manual accounting system might work.
2006-11-22 06:13:27 · answer #2 · answered by tarl_cabot_2k 2 · 0⤊ 0⤋
I'm afraid there's no quick way to learn. It took me many years of night school and correspondence school.
2006-11-22 06:08:56 · answer #3 · answered by Malcolm 3 · 0⤊ 1⤋