Sales Book
The Sales Book is a specialized accounting book used to record all credit sales of goods. It only includes sales made on credit, and cash sales are not recorded here as they are directly recorded in the cash book.
Key Features:
- Records Credit Sales: Only sales made on credit are recorded in the sales book.
- Excludes Cash Sales: Cash sales are not included; they are recorded in the cash book.
- No Posting to Ledger Immediately: Each credit sale recorded in the sales book is later posted to individual customer accounts in the Sales Ledger.
Purpose:
The sales book helps businesses keep a record of all credit transactions related to the sale of goods. This ensures that the total sales for a period can be easily calculated without tracking cash sales.
Format :
Example:
If a business sells goods worth Rs. 20,000 to a customer on credit, it will be recorded in the sales book as:
| Date | Customer Name | Invoice No. | Details of Goods Sold | Amount (Rs.) |
|---|---|---|---|---|
| 01/10/2024 | XYZ Company | 123 | 10 units of product A | 20,000 |
Conclusion:
The Sales Book simplifies the process of tracking credit sales, allowing businesses to maintain detailed records of customers who purchased on credit, while separating these transactions from cash sales.