The sales day book, also known as the sales book, is a ledger covering, in detail, all credit sales transactions during the day. These sales are then added together and recorded in the sales ledger for that day.Know More
Since the sales ledger contains totals from the sales day book, the sales book is actually the most accurate tabulation of credit sales for a company on a day-by-day basis. The sales day book is used for accounting systems that are manually kept, as the information contained in the sales book is automatically captured when sales are controlled by a computer system.
The sales day book contains as much information on each recorded sale as possible, including the name of the customer, the invoice number of the sale, the invoice date and the amount of the invoiced sale. The book is filled out at the end of a sales day, using copies of the customer invoices to do so. The entries are recorded in chronological order. These entries are then passed on to be posted into sales journals, which record the transactions without the detailed invoicing information. Unlike a sales journal, the sales day book is usually posted by those directly involved in the transactions.Learn more about Accounting
According to the Houston Chronicle, a sales analysis report is a report that shows the trends that occur in a company's sales volume over time. It shows whether or not a company's sales are increasing or decreasing.Full Answer >
The primary advantage of the percentage-of-sales method is that companies find it to be a simple method for allocating resources to advertising by using sales performance or forecasts as an anchor. The greatest disadvantage is that advertisers disagree that sales should determine advertising, instead feeling that advertising actually drives sales.Full Answer >
To complete a petty cash book, keep a running tally of cash in the account, deposits, withdrawals and dates. The petty cash book is a summary of trivial expenses. It can take the form of a ledger sheet or a spreadsheet, such as a Microsoft Excel file. Typically a business maintains a petty cash account for minor expenses, such as meals, flowers, stamps and office supplies, according to Accounting Tools.Full Answer >
A petty cash book is a formal record of any company or organization expenditure that is made using petty cash. The record is typically sorted by date, and as of 2015, a majority of petty cash books are still physical ledger books rather than digital files.Full Answer >