PURCHASES AND SALES

[loris]

PLEASE CAN ANYONE GIVE A CLUE ABOUT AN EASY WAY TO REMEMBER WHICH SIDE EACH TRANSACTION GOES ON FOR SALES AND PURCHASES I CAN REMEMBER THE GENERAL LEDGER TRANSACTIONS OK BUT I ALWAYS GET THE SUBSIDUARY TRANSACTIONS MIXED UP - I KNOW THIS SEEM LIKE A SILLY QUESTION<BR>ANY ADVISE WOULD BE MUCH APPRECIATED

[Littledoe]

DEAR CLIP<BR><BR>DEAR = DR<BR>D ebtors<BR>E xpenses<BR>A ssets<BR>R oyalties<BR><BR><BR>CLIP = CR<BR>C reditors<BR>L iabilities<BR>I ncome<BR>P rovision<BR><BR>Purchases are an expense and sales are income. Remember Dear Clip and you won't go wrong! It sorted me out!<BR><BR>Hope it helps you too!

[Amanda258]

If its the Sub Accounts you are getting mixed up, this is how I remember!!<BR><BR>Sales are Debtors and<BR>Purchases are Creditors<BR><BR>So in the Sub Ledgers ONLY when you are posting a Invoice (either sales or purchase!)<BR><BR>DEBIT = Debtors<BR>CREDIT = Creditors!<BR><BR>Hope this makes sense!!<BR><BR>Amanda