Recording sales, purchases and cash

This week’s topics

Recording sales, purchases and cash

1. Cash and bank
2. Sales and purchases
3. Checking with a trial balance

What you will be able to do

• 2.2 Record simple transactions using double-entry principles.

Activity

Record a week of transactions and draw up a trial balance.

Study materials

Further resources

• Principles of Accounting Vol. 1, ch. 6.3–6.4: Recording purchases, sales and returns · PDF · OpenStax (2019); pp. 347–359 · for registered students
• Principles of Accounting Vol. 1, ch. 3.6: Prepare a trial balance · PDF · OpenStax (2019); pp. 146–161 · for registered students
• Digital Workplace Skills: Integrated Learning of Accounting and Microsoft Excel · Open-access article · Kelly et al. (2023), Accounting, Finance & Governance Review. Students record sales, purchases and cash in bookkeeping and Excel at the same time. · for registered students
• Impact of Errors in Operational Spreadsheets · Open-access article · Powell et al. (2007), Proceedings of EuSpRIG. How often recording errors happen, and why checks such as a trial balance matter. · for registered students