1
Page 1
Source Documents
Invoices, receipts, credit notes, cheque counterfoils and bank statements provide evidence for accounting entries.
Document -> Entry
Remember
No reliable document, no reliable record.
Accounting Student Book 1 chapters
Study
3 pages
Recording Transactions
Reference: Pearson Edexcel International AS / A Level Accounting Student Book 1. Use a structured method: identify the source document, name the accounts affected, then decide the debit and credit.
What you'll learn
Main skills from this lesson
Identify common source documents
Record transactions in books of prime entry
Post entries to ledger accounts and prepare a trial balance
2
Page 2
Dual Effect
Every transaction affects at least two accounts. Debit one account and credit another so the accounting equation stays balanced.
Debit = Credit
Remember
Assets = Capital + Liabilities.
3
Page 3
Trial Balance
A trial balance lists ledger balances to check that total debits equal total credits. It helps find arithmetic and posting errors.
Total DR = Total CR
Remember
A balanced trial balance is a check, not a guarantee.
Great work
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