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Bookkeeping/Accounting

The success of any business largely depends on keeping accounts properly. Before arriving at any decision, we have to know the financial status of the business, which can only be determined if accounts are maintained properly. In any business, a number of transactions are occurring daily. These are usually accountable in terms of money. These transactions are recorded in sequence according to specific methods. This is called keeping accounts. During this session resource persons explained the importance of keeping accounts. They showed examples of a ledger, a receipt book and a stock register, and discussed their advantages and disadvantages. Participants related their experiences with community-level accounting systems in different countries. Then participants were divided into four groups to prepare simple formats to be used for keeping accounts at the community level.

Group 1
Journal Book
Date Transaction# Particulars Amount Remarks

Stock Book
Date Previous balance Receipt Total Delivery Balance Remarks

106

Small-scale Enterprise for Neo-literates through CLCs

Pay Rec.Credit Sale Book Date Name Particulars Quantity Amount Remarks Ledger Book Date Particular Transaction # Bank Cash Sale Raw Material Furniture Rec. Pay Bookkeeping/Accounting 107 . Pay Rec. Pay Rec. Pay Rec.

3. of receipt Price/Unit Total price Remarks 11/11/2000 11/11/2000 11/11/2000 11/11/2000 Flying pot Cutter Dryer Bowl 1/03 1/04 1/05 1/06 1205 1206 1207 1208 $20 $35 $80 $20 $20 $35 $20 $20 For banana chips - Stock Register Date Receipt Previous balance 100 kg 150 kg In Out Balance Remarks 11/11/2000 12/11/2000 1216 50 kg - 80 kg 70 kg Banana Chips 108 Small-scale Enterprise for Neo-literates through CLCs . Keeping Accounts 1.Group 2. No. Equipment Raw materials and goods Money Inventory list Stock register Cash and bank Balance Remarks Inventory List – Equipment Date Item Unit/ Stock no. Capital a) b) c) a) b) c) 2.

109 Cash and Bank Account Hand cash Particulars In Ou t Bal Il. Bank Toal amount Remarks Date Receipt 11/11 Bookkeeping/Accounting .n Ou t Bal In Ou t Bal.

Group 3 Register for Production and Sales Date Name of product Quantity Value Date of sale Quantity Value Balance Stock Register Receipt Name of Items: Date of purchase Quantity Rate Total Date of Issue Quantity To whom Balance 110 Small-scale Enterprise for Neo-literates through CLCs .

Debit Credit Bal. Debit Bookkeeping/Accounting .111 Cash Book Cash in hand Credit Bal. Debit Credit Bal. Debit Credit Bal. Debit Credit Bank fund Sale Raw material Wages Loan Debit Credit Particulars * Details on purchased and issued raw materials.

00 Journal No. 112 Small-scale Enterprise for Neo-literates through CLCs .00 Bank Ledger Date 11/11/2000 Particulars Bank account Norbou Receive from Norbue Check No.000. - Debit P 5.Group 4 Purchase Date 11/11/2000 11/11/2000 Date Particulars Purchase account to cash Purchase Journal No.000.000.000. pages 74 and 76.00 Balance P 5.000. Debit P 5. 007 Debit P 5.00 P 5.00 Sales Date 11/11/2000 Particulars Cash account to sales account Journal No.000.000.00 Credit P 5. Debit Credit Balance P 10.000.00 Purchase return Cash Book Date 11/12/2000 Particulars Balance forward Wood to cash Purchase wood as raw material P 2.00 Credit P 5.00 P 8.000.00 Credit P 5.000.000.00 Sales return Ledger book and registry of stock will be taken from the manual.00 P 5.000.