Lesson 8
Accounting
Information Systems
Task Team of
FUNDAMENTAL ACCOUNTING
School of Business,Sun Yat-sen University
2
Outline
Fundamental Principles of Accounting
Information system
A diagram of the accounting process
Accounting System Components
General Journal Transactions
Computerized Accounting Information
System
3
4
Management Information System
Sales and
Marketing
System
Finance
System
Accounting
Information
System
Human
Resources
System
Production
System
5
Collect and
process data
from
transactions
and events
Organize
them in
useful
forms
Communicate
results to
decision
makers
Accounting Information Systems
(AIS)
6
Fundamental Principles of AIS
Cost-effectiveness Balance
Flexibility to meet future needs
Adequate internal control
Effective reporting
Adaptation to organization structure
7
Internal Controls of AIS
Competent personnel and rotation of duties
Assignment of responsibility
Separation of responsibility for related
operation
Separation of operation and accounting
Proofs and security measure
Independent review
8
The accounting process
Appropriate business
documents prepared
or received
Record transactions
in journals
Post transactions to
ledgers
prepare reports and
other financial
statements
Input
Output
Bank
Statements
Invoices
9
Components of an AIS
Source documents
Special journals
Subsidiary ledgers
General ledgers (Control account)
10
Source documents
Source
Documents
Bank
Statements
Cheques
Employee
Records
Invoices
11
Tr a ns a c t i ons S pe c i a l J our na l ( A bbr e v v i a t i on)
S a l e s on c r e di t S a l e s J our na l ( S )
P ur c ha s e s on c r e di t P ur c ha s e s J our na l ( P )
C a s h r e c e i pt s C a s h R e c e i pt s J our na l ( C R )
C a s h P a y m e nt s C a s h P a y m e nt s J our na l ( C P )
Special Journals
Special journals
organizing transactions into common
groups and require less time and effort
for posting
12
Subsidiary Ledgers
Subsidiary ledgers are a listing of individual
accounts with common characteristics
Accounts receivable ledgers
Accounts payable ledgers
…
13
Accounts Receivable Ledger
A C C O U N TS R E C E I V A B LE LE D G E R
A C o m p a n y
D a t e PR D e bi t C r e di t B a l a nc e
J a n,1 S5 500 500
A C C O U N TS R E C E I V A B LE LE D G E R
B C o m p a n y
D a t e PR D e bi t C r e di t B a l a nc e
J a n,16 S5 1,0 0 0 1,0 0 0
A C C O U N TS R E C E I V A B LE LE D G E R
C C o m p a n y
D a t e PR D e bi t C r e di t B a l a nc e
J a n,25 S5 415 415
14
General ledger
General ledger is the principal ledger,which
contains all of the balance sheet and income
statement accounts
Each subsidiary ledger is represented in the
general ledger by a summarizing account,called a
controlling account
The balance in the controlling accounts must
equal the sum of the balances in the subsidiary
ledgers
15
General ledger & subsidiary ledgers
Accounts Receivable
(controlling account)
Accounts Payable
(controlling account)
Customer A
Customer B
Customer C
Customer A
Customer B
Customer C
General
ledger
Subsidiary
ledger
16
Subsidiary
Balances
Controlling
Balance
17
A C C O U N TS R E C E I V A B LE LE D G E R
A C o m p a n y
D a t e PR D e bi t C r e di t B a l a nc e
J a n,1 S5 500 500
A C C O U N TS R E C E I V A B LE LE D G E R
B C o m p a n y
D a t e PR D e bi t C r e di t B a l a nc e
J a n,16 S5 1,0 0 0 1,0 0 0
G E N E R A L L E D G E R
A c c o u n t s R e c e i v a b l e N o,1 0 6
D a t e PR D e b i t C r e d i t B a l a n c e
J a n,31 S5 1,9 1 5 1,9 1 5
A C C O U N TS R E C E I V A B LE LE D G E R
C C o m p a n y
D a t e PR D e bi t C r e di t B a l a nc e
J a n,25 S5 415 415
Accounts Receivable Ledger
18
Sales Journal
P a g e 1
D a t e
A c c o u n t
D e b i t e d
I n v o i c e
N u m b e r PR
D r,A / R
C r,S a l e s
D r C O G S
C r I n v e n t o r y
2001
F e b,2 J a s o n H e n r y 307 450 315
S A LE S J O U R N A L
This two columns total are
posted monthly the
appropriate accounts
19
Sales Journal
A C C O U N TS R E C E I V A B LE LE D G E R
J a s o n H e n r y
D a t e PR D e bi t C r e di t B a l a nc e
P a g e 1
D a t e
A c c o u n t
D e b i t e d
I n v o i c e
N u m b e r PR
D r,A / R
C r,S a l e s
D r C O G S
C r I n v e n t o r y
2005
F e b,2 J a s o n H e n r y 307 450 315
S A LE S J O U R N A L
Daily,each
transaction is
posted to the
appropriate
Accounts
Receivable
Ledger
account.
20
Sales Journal
A C C O U N TS R E C E I V A B LE LE D G E R
J a s o n H e n r y
D a t e PR D e bi t C r e di t B a l a nc e
2005
Fe b,2 450 450
P a g e 1
D a t e
A c c o u n t
D e b i t e d
I n v o i c e
N u m b e r PR
D r,A / R
C r,S a l e s
D r C O G S
C r I n v e n t o r y
2005
F e b,2 J a s o n H e n r y 307 450 315
S A LE S J O U R N A L
21
Sales Journal
A C C O U N TS R E C E I V A B LE LE D G E R
J a s o n H e n r y
D a t e PR D e bi t C r e di t B a l a nc e
2005
Fe b,2 S1 450 450
Page 1
Date
Account
Debited
Invoice
Number PR
Dr,A/R
Cr,Sales
Dr COGS
Cr Inventory
2005
Feb,2 Jason Henry 307 450 315
SALES JOURNAL
The transaction
has been posted
22
Sales Journal
P a g e 1
D a t e
A c c o u n t
D e b i t e d
I n v o i c e
N u m b e r PR
D r,A / R
C r,S a l e s
D r C O G S
C r I n v e n t o r y
2001
F e b,2 J a s o n H e n r y 307 450 315
7 A l b e r t C o,308 500 355
13 B a m M o o r e 309 350 260
15 P a u l R o t h 310 200 150
S A LE S J O U R N A L
23
Sales Journal
P a g e 1
D a t e
A c c o u n t
D e b i t e d
I n v o i c e
N u m b e r PR
D r,A / R
C r,S a l e s
D r C O G S
C r I n v e n t o r y
2005
F e b,2 J a s o n H e n r y 307 450 315
7 A l b e r t C o,308 500 355
13 B a m M o o r e 309 350 260
15 P a u l R o t h 310 200 150
22 J a s o n H e n r y 311 225 155
25 F r a n k B o o t h 312 175 95
28 A l b e r t C o,313 250 170
28 T o t a l s 2,1 5 0 1,5 0 0
( 1 0 6 / 4 1 3 ) ( 5 0 2 / 1 1 9 )
S A LE S J O U R N A L
G E N E R A L LE D G E R
A c c ou nt s R e c e i v a bl e N o,1 0 6
D a t e PR D e bi t C r e di t B a l a nc e
Fe b,28 S1 2,1 5 0 2,1 5 0
On Feb,28th,
post the
column total
to Accounts
Receivable
24
Sales Journal
P a g e 1
D a t e
A c c o u n t
D e b i t e d
I n v o i c e
N u m b e r PR
D r,A / R
C r,S a l e s
D r C O G S
C r I n v e n t o r y
2005
F e b,2 J a s o n H e n r y 307 450 315
7 A l b e r t C o,308 500 355
13 B a m M o o r e 309 350 260
15 P a u l R o t h 310 200 150
22 J a s o n H e n r y 311 225 155
25 F r a n k B o o t h 312 175 95
28 A l b e r t C o,313 250 170
28 T o t a l s 2,1 5 0 1,5 0 0
( 1 0 6 / 4 1 3 ) ( 5 0 2 / 1 1 9 )
S A LE S J O U R N A L
G E N E R A L LE D G E R
S a l e s N o,4 1 3
D a t e PR D e bi t C r e di t B a l a nc e
Fe b,28 S1 2,1 5 0 2,1 5 0
On Feb,28th,
post the
column total
to Sales
25
Sales Journal
G E N E R A L LE D G E R
C os t of G oo ds S ol d N o,5 0 2
D a t e PR D e bi t C r e di t B a l a nc e
Fe b,28 S1 1,5 0 0 1,5 0 0
P a g e 1
D a t e
A c c o u n t
D e b i t e d
I n v o i c e
N u m b e r PR
D r,A / R
C r,S a l e s
D r C O G S
C r I n v e n t o r y
2005
F e b,2 J a s o n H e n r y 307 450 315
7 A l b e r t C o,308 500 355
13 B a m M o o r e 309 350 260
15 P a u l R o t h 310 200 150
22 J a s o n H e n r y 311 225 155
25 F r a n k B o o t h 312 175 95
28 A l b e r t C o,313 250 170
28 T o t a l s 2,1 5 0 1,5 0 0
( 1 0 6 / 4 1 3 ) ( 5 0 2 / 1 1 9 )
S A LE S J O U R N A L
G E N E R A L LE D G E R
I nv e nt ory N o,1 1 9
D a t e PR D e bi t C r e di t B a l a nc e
Fe b,28 S1 1,5 0 0 1,5 0 0
Now post the
COGS and
Inventory
accounts
26
Sales Journal
G E N E R A L LE D G E R
C os t of G oo ds S ol d N o,5 0 2
D a t e PR D e bi t C r e di t B a l a nc e
Fe b,28 S1 1,5 0 0 1,5 0 0
P a g e 1
D a t e
A c c o u n t
D e b i t e d
I n v o i c e
N u m b e r PR
D r,A / R
C r,S a l e s
D r C O G S
C r I n v e n t o r y
2005
F e b,2 J a s o n H e n r y 307 450 315
7 A l b e r t C o,308 500 355
13 B a m M o o r e 309 350 260
15 P a u l R o t h 310 200 150
22 J a s o n H e n r y 311 225 155
25 F r a n k B o o t h 312 175 95
28 A l b e r t C o,313 250 170
28 T o t a l s 2,1 5 0 1,5 0 0
( 1 0 6 / 4 1 3 ) ( 5 0 2 / 1 1 9 )
S A LE S J O U R N A L
G E N E R A L LE D G E R
I nv e nt ory N o,1 1 9
D a t e PR D e bi t C r e di t B a l a nc e
Fe b,28 S1 1,5 0 0 1,5 0 0
Remember to update the
account balances and the
posting references
27
Cash Receipts Journal
C A SH R EC EI PT S J O U R N A L P a ge 1
D a t e A c c ou nt s C r e di t e d PR E x pl a na t i on
C a s h
D r,
S a l e s
D i s c ou nt
D r,
A c c t s,
R e c,
C r,
S a l e s
C r,
O t he r
A c c t s,
C r,
C O G S D r,
I nv e nt ory
Cr
2005
Fe b,7 S a l e s C a s h s a l e 4,4 5 0 4,4 5 0 3,1 5 0
12 J a s on H e nry I nv oi c e,Fe b 2 441 9 450
14 S a l e s C a s h s a l e 3,9 2 5 3,9 2 5 2,9 5 0
17 A l be r t C o,I nv oi c e,Fe b 7 490 10 500
20 N ot e pa y a bl e N ot e t o ba nk 750 750
21 S a l e s C a s h s a l e 4,7 0 0 4,7 0 0 3,4 0 0
22 I nt e r e s t r e v e nu e B a nk a c c ou nt 250 250
23 B a m M oo r e I nv oi c e,Fe b 1 3 343 7 350
25 P a ul R ot h I nv oi c e,Fe b 1 7 196 4 200
28 S a l e s C a s h s a l e 4,2 2 5 4,2 2 5 3,0 5 0
28 To t a l 1 9,7 7 0 30 1,5 0 0 1 7,3 0 0 1,0 0 0 1 2,5 5 0
( 1 0 1 ) ( 4 1 5 ) ( 1 0 6 ) ( 4 1 3 ) ( x ) ( 5 0 2 / 1 1 9 )
28
Cash Receipts Journal
C A SH R EC EI PT S J O U R N A L P a ge 1
D a t e A c c ou nt s C r e di t e d PR E x pl a na t i on C a s h D r,
S a l e s
D i s c ou nt
D r,
A c c t s,
R e c,C r,S a l e s C r,
O t he r
A c c t s,
C r,
C O G S D r,
I nv e nt ory C r
2005
Fe b,7 S a l e s C a s h s a l e 4,4 5 0 4,4 5 0 3,1 5 0
12 J a s on H e nry I nv oi c e,Fe b 2 441 9 450
14 S a l e s C a s h s a l e 3,9 2 5 3,9 2 5 2,9 5 0
17 A l be r t C o,I nv oi c e,Fe b 7 490 10 500
20 N ot e pa y a bl e 245 N ot e t o ba nk 750 750
21 S a l e s C a s h s a l e 4,7 0 0 4,7 0 0 3,4 0 0
22 I nt e r e s t r e v e nu e 409 B a nk a c c ou nt 250 250
23 B a m M oo r e I nv oi c e,Fe b 1 3 343 7 350
25 P a ul R ot h I nv oi c e,Fe b 1 7 196 4 200
28 S a l e s C a s h s a l e 4,2 2 5 4,2 2 5 3,0 5 0
28 To t a l 1 9,7 7 0 30 1,5 0 0 1 7,3 0 0 1,0 0 0 1 2,5 5 0
( 1 0 1 ) ( 4 1 5 ) ( 1 0 6 ) ( 4 1 3 ) ( x ) ( 5 0 2 / 1 1 9 )
29
Purchases Journal
A m o u n t i s n o t p o s t e d i n d i v i d u a l l y t o a n a c c o u n t,
A m o u n t i s p o s t e d i n d i v i d u a l l y t o s u b s i d i a r y l e d g e r,
A c c t,N o,A m o u n t i s p o s t e d t o s p e c i f i e d a c c o u n t,?
P U R C H A S E S J O U R N A L P a ge 3
D a t e A c c ou nt
I nv oi c e
D a t e Te r m s PR
A c c t s,
P a y a bl e
C r,
I nv e nt ory
D r,
O f f i c e
S up pl i e s
D r,
O t he r
A c c t s,
D r,
2005
Fe b 3 H orun g S up pl y C o Fe b,2 n/ 3 0 350 275 75
5 A c e M f g,C o 5 2 / 1 0,n/ 3 0 200 200
13 W y ne t & C o,10 2 / 1 0,n/ 3 0 150 150
20 S m i t e C o,18 2 / 1 0,n/ 3 0 300 300
25 A c e M f g,C o 24 2 / 1 0,n/ 3 0 100 100
28 S t ore s up pl i e s / I TT C o,28 n/ 3 0 125 / 225 125 25 75
28 To t a l s 1,3 2 5 1,1 5 0 100 75
( 2 0 1 ) ( 5 0 5 ) ( 1 2 4 ) ( )?
30
Cash Payments Journal
C A S H P a y m e n ts J O U R N A L P a ge 1
D a t e C h,N o,P a y e e A c c ou nt D e bi t e d PR
C a s h
C r,
M e r c h.
I nv e nt ory
C r,
O t he r
A c c ou nt s
D r,
A c c ou nt s
P a y a bl e
D r,
2001
Fe b,3 105 L & N R a i l r oa d I nv e nt ory 119 15 15
5 106 E a s t S a l e s C o,I nv e nt ory 119 25 25
13 107 A c e M f g,C o A c e M f g,C o,196 4 200
20 108 J e r r y H a l e S a l a r i e s e x pe ns e 622 250 250
25 109 W y ne t & C o,W y ne t & C o,147 3 150
28 110 S m i t e C o,S m i t e C o,294 6 300
28 To t a l s 927 13 290 650
( 1 0 1 ) ( 1 1 9 ) ( ) ( 2 0 1 )
A m o u n t i s n o t p o s t e d i n d i v i d u a l l y t o a n a c c o u n t,
A m o u n t i s p o s t e d i n d i v i d u a l l y t o s u b s i d i a r y l e d g e r,
A c c t,N o,A m o u n t i s p o s t e d t o s p e c i f i e d a c c o u n t,
31
General Journal Transactions
Adjusting Entries
Reversing Entries
Transactions not recorded in Special
Journals
32
Computerized AIS
Computerized accounting systems have
become more widely used as the cost of
computer hardware and software has
declined
Why did we study manual accounting
systems?
The concepts for a manual system has also
apply to computerized systems
33
Computerized
accounts receivable system
Invoice
file
Cash
receipt
file
Customer account balance
customer invoice,and cash
receipts summary report
Customers
Electronic Accounts
Receivable subsidiary
and general ledgers
Customer
Checks
Customer
Invoices
The End of Lesson 8
Accounting
Information Systems
Task Team of
FUNDAMENTAL ACCOUNTING
School of Business,Sun Yat-sen University
2
Outline
Fundamental Principles of Accounting
Information system
A diagram of the accounting process
Accounting System Components
General Journal Transactions
Computerized Accounting Information
System
3
4
Management Information System
Sales and
Marketing
System
Finance
System
Accounting
Information
System
Human
Resources
System
Production
System
5
Collect and
process data
from
transactions
and events
Organize
them in
useful
forms
Communicate
results to
decision
makers
Accounting Information Systems
(AIS)
6
Fundamental Principles of AIS
Cost-effectiveness Balance
Flexibility to meet future needs
Adequate internal control
Effective reporting
Adaptation to organization structure
7
Internal Controls of AIS
Competent personnel and rotation of duties
Assignment of responsibility
Separation of responsibility for related
operation
Separation of operation and accounting
Proofs and security measure
Independent review
8
The accounting process
Appropriate business
documents prepared
or received
Record transactions
in journals
Post transactions to
ledgers
prepare reports and
other financial
statements
Input
Output
Bank
Statements
Invoices
9
Components of an AIS
Source documents
Special journals
Subsidiary ledgers
General ledgers (Control account)
10
Source documents
Source
Documents
Bank
Statements
Cheques
Employee
Records
Invoices
11
Tr a ns a c t i ons S pe c i a l J our na l ( A bbr e v v i a t i on)
S a l e s on c r e di t S a l e s J our na l ( S )
P ur c ha s e s on c r e di t P ur c ha s e s J our na l ( P )
C a s h r e c e i pt s C a s h R e c e i pt s J our na l ( C R )
C a s h P a y m e nt s C a s h P a y m e nt s J our na l ( C P )
Special Journals
Special journals
organizing transactions into common
groups and require less time and effort
for posting
12
Subsidiary Ledgers
Subsidiary ledgers are a listing of individual
accounts with common characteristics
Accounts receivable ledgers
Accounts payable ledgers
…
13
Accounts Receivable Ledger
A C C O U N TS R E C E I V A B LE LE D G E R
A C o m p a n y
D a t e PR D e bi t C r e di t B a l a nc e
J a n,1 S5 500 500
A C C O U N TS R E C E I V A B LE LE D G E R
B C o m p a n y
D a t e PR D e bi t C r e di t B a l a nc e
J a n,16 S5 1,0 0 0 1,0 0 0
A C C O U N TS R E C E I V A B LE LE D G E R
C C o m p a n y
D a t e PR D e bi t C r e di t B a l a nc e
J a n,25 S5 415 415
14
General ledger
General ledger is the principal ledger,which
contains all of the balance sheet and income
statement accounts
Each subsidiary ledger is represented in the
general ledger by a summarizing account,called a
controlling account
The balance in the controlling accounts must
equal the sum of the balances in the subsidiary
ledgers
15
General ledger & subsidiary ledgers
Accounts Receivable
(controlling account)
Accounts Payable
(controlling account)
Customer A
Customer B
Customer C
Customer A
Customer B
Customer C
General
ledger
Subsidiary
ledger
16
Subsidiary
Balances
Controlling
Balance
17
A C C O U N TS R E C E I V A B LE LE D G E R
A C o m p a n y
D a t e PR D e bi t C r e di t B a l a nc e
J a n,1 S5 500 500
A C C O U N TS R E C E I V A B LE LE D G E R
B C o m p a n y
D a t e PR D e bi t C r e di t B a l a nc e
J a n,16 S5 1,0 0 0 1,0 0 0
G E N E R A L L E D G E R
A c c o u n t s R e c e i v a b l e N o,1 0 6
D a t e PR D e b i t C r e d i t B a l a n c e
J a n,31 S5 1,9 1 5 1,9 1 5
A C C O U N TS R E C E I V A B LE LE D G E R
C C o m p a n y
D a t e PR D e bi t C r e di t B a l a nc e
J a n,25 S5 415 415
Accounts Receivable Ledger
18
Sales Journal
P a g e 1
D a t e
A c c o u n t
D e b i t e d
I n v o i c e
N u m b e r PR
D r,A / R
C r,S a l e s
D r C O G S
C r I n v e n t o r y
2001
F e b,2 J a s o n H e n r y 307 450 315
S A LE S J O U R N A L
This two columns total are
posted monthly the
appropriate accounts
19
Sales Journal
A C C O U N TS R E C E I V A B LE LE D G E R
J a s o n H e n r y
D a t e PR D e bi t C r e di t B a l a nc e
P a g e 1
D a t e
A c c o u n t
D e b i t e d
I n v o i c e
N u m b e r PR
D r,A / R
C r,S a l e s
D r C O G S
C r I n v e n t o r y
2005
F e b,2 J a s o n H e n r y 307 450 315
S A LE S J O U R N A L
Daily,each
transaction is
posted to the
appropriate
Accounts
Receivable
Ledger
account.
20
Sales Journal
A C C O U N TS R E C E I V A B LE LE D G E R
J a s o n H e n r y
D a t e PR D e bi t C r e di t B a l a nc e
2005
Fe b,2 450 450
P a g e 1
D a t e
A c c o u n t
D e b i t e d
I n v o i c e
N u m b e r PR
D r,A / R
C r,S a l e s
D r C O G S
C r I n v e n t o r y
2005
F e b,2 J a s o n H e n r y 307 450 315
S A LE S J O U R N A L
21
Sales Journal
A C C O U N TS R E C E I V A B LE LE D G E R
J a s o n H e n r y
D a t e PR D e bi t C r e di t B a l a nc e
2005
Fe b,2 S1 450 450
Page 1
Date
Account
Debited
Invoice
Number PR
Dr,A/R
Cr,Sales
Dr COGS
Cr Inventory
2005
Feb,2 Jason Henry 307 450 315
SALES JOURNAL
The transaction
has been posted
22
Sales Journal
P a g e 1
D a t e
A c c o u n t
D e b i t e d
I n v o i c e
N u m b e r PR
D r,A / R
C r,S a l e s
D r C O G S
C r I n v e n t o r y
2001
F e b,2 J a s o n H e n r y 307 450 315
7 A l b e r t C o,308 500 355
13 B a m M o o r e 309 350 260
15 P a u l R o t h 310 200 150
S A LE S J O U R N A L
23
Sales Journal
P a g e 1
D a t e
A c c o u n t
D e b i t e d
I n v o i c e
N u m b e r PR
D r,A / R
C r,S a l e s
D r C O G S
C r I n v e n t o r y
2005
F e b,2 J a s o n H e n r y 307 450 315
7 A l b e r t C o,308 500 355
13 B a m M o o r e 309 350 260
15 P a u l R o t h 310 200 150
22 J a s o n H e n r y 311 225 155
25 F r a n k B o o t h 312 175 95
28 A l b e r t C o,313 250 170
28 T o t a l s 2,1 5 0 1,5 0 0
( 1 0 6 / 4 1 3 ) ( 5 0 2 / 1 1 9 )
S A LE S J O U R N A L
G E N E R A L LE D G E R
A c c ou nt s R e c e i v a bl e N o,1 0 6
D a t e PR D e bi t C r e di t B a l a nc e
Fe b,28 S1 2,1 5 0 2,1 5 0
On Feb,28th,
post the
column total
to Accounts
Receivable
24
Sales Journal
P a g e 1
D a t e
A c c o u n t
D e b i t e d
I n v o i c e
N u m b e r PR
D r,A / R
C r,S a l e s
D r C O G S
C r I n v e n t o r y
2005
F e b,2 J a s o n H e n r y 307 450 315
7 A l b e r t C o,308 500 355
13 B a m M o o r e 309 350 260
15 P a u l R o t h 310 200 150
22 J a s o n H e n r y 311 225 155
25 F r a n k B o o t h 312 175 95
28 A l b e r t C o,313 250 170
28 T o t a l s 2,1 5 0 1,5 0 0
( 1 0 6 / 4 1 3 ) ( 5 0 2 / 1 1 9 )
S A LE S J O U R N A L
G E N E R A L LE D G E R
S a l e s N o,4 1 3
D a t e PR D e bi t C r e di t B a l a nc e
Fe b,28 S1 2,1 5 0 2,1 5 0
On Feb,28th,
post the
column total
to Sales
25
Sales Journal
G E N E R A L LE D G E R
C os t of G oo ds S ol d N o,5 0 2
D a t e PR D e bi t C r e di t B a l a nc e
Fe b,28 S1 1,5 0 0 1,5 0 0
P a g e 1
D a t e
A c c o u n t
D e b i t e d
I n v o i c e
N u m b e r PR
D r,A / R
C r,S a l e s
D r C O G S
C r I n v e n t o r y
2005
F e b,2 J a s o n H e n r y 307 450 315
7 A l b e r t C o,308 500 355
13 B a m M o o r e 309 350 260
15 P a u l R o t h 310 200 150
22 J a s o n H e n r y 311 225 155
25 F r a n k B o o t h 312 175 95
28 A l b e r t C o,313 250 170
28 T o t a l s 2,1 5 0 1,5 0 0
( 1 0 6 / 4 1 3 ) ( 5 0 2 / 1 1 9 )
S A LE S J O U R N A L
G E N E R A L LE D G E R
I nv e nt ory N o,1 1 9
D a t e PR D e bi t C r e di t B a l a nc e
Fe b,28 S1 1,5 0 0 1,5 0 0
Now post the
COGS and
Inventory
accounts
26
Sales Journal
G E N E R A L LE D G E R
C os t of G oo ds S ol d N o,5 0 2
D a t e PR D e bi t C r e di t B a l a nc e
Fe b,28 S1 1,5 0 0 1,5 0 0
P a g e 1
D a t e
A c c o u n t
D e b i t e d
I n v o i c e
N u m b e r PR
D r,A / R
C r,S a l e s
D r C O G S
C r I n v e n t o r y
2005
F e b,2 J a s o n H e n r y 307 450 315
7 A l b e r t C o,308 500 355
13 B a m M o o r e 309 350 260
15 P a u l R o t h 310 200 150
22 J a s o n H e n r y 311 225 155
25 F r a n k B o o t h 312 175 95
28 A l b e r t C o,313 250 170
28 T o t a l s 2,1 5 0 1,5 0 0
( 1 0 6 / 4 1 3 ) ( 5 0 2 / 1 1 9 )
S A LE S J O U R N A L
G E N E R A L LE D G E R
I nv e nt ory N o,1 1 9
D a t e PR D e bi t C r e di t B a l a nc e
Fe b,28 S1 1,5 0 0 1,5 0 0
Remember to update the
account balances and the
posting references
27
Cash Receipts Journal
C A SH R EC EI PT S J O U R N A L P a ge 1
D a t e A c c ou nt s C r e di t e d PR E x pl a na t i on
C a s h
D r,
S a l e s
D i s c ou nt
D r,
A c c t s,
R e c,
C r,
S a l e s
C r,
O t he r
A c c t s,
C r,
C O G S D r,
I nv e nt ory
Cr
2005
Fe b,7 S a l e s C a s h s a l e 4,4 5 0 4,4 5 0 3,1 5 0
12 J a s on H e nry I nv oi c e,Fe b 2 441 9 450
14 S a l e s C a s h s a l e 3,9 2 5 3,9 2 5 2,9 5 0
17 A l be r t C o,I nv oi c e,Fe b 7 490 10 500
20 N ot e pa y a bl e N ot e t o ba nk 750 750
21 S a l e s C a s h s a l e 4,7 0 0 4,7 0 0 3,4 0 0
22 I nt e r e s t r e v e nu e B a nk a c c ou nt 250 250
23 B a m M oo r e I nv oi c e,Fe b 1 3 343 7 350
25 P a ul R ot h I nv oi c e,Fe b 1 7 196 4 200
28 S a l e s C a s h s a l e 4,2 2 5 4,2 2 5 3,0 5 0
28 To t a l 1 9,7 7 0 30 1,5 0 0 1 7,3 0 0 1,0 0 0 1 2,5 5 0
( 1 0 1 ) ( 4 1 5 ) ( 1 0 6 ) ( 4 1 3 ) ( x ) ( 5 0 2 / 1 1 9 )
28
Cash Receipts Journal
C A SH R EC EI PT S J O U R N A L P a ge 1
D a t e A c c ou nt s C r e di t e d PR E x pl a na t i on C a s h D r,
S a l e s
D i s c ou nt
D r,
A c c t s,
R e c,C r,S a l e s C r,
O t he r
A c c t s,
C r,
C O G S D r,
I nv e nt ory C r
2005
Fe b,7 S a l e s C a s h s a l e 4,4 5 0 4,4 5 0 3,1 5 0
12 J a s on H e nry I nv oi c e,Fe b 2 441 9 450
14 S a l e s C a s h s a l e 3,9 2 5 3,9 2 5 2,9 5 0
17 A l be r t C o,I nv oi c e,Fe b 7 490 10 500
20 N ot e pa y a bl e 245 N ot e t o ba nk 750 750
21 S a l e s C a s h s a l e 4,7 0 0 4,7 0 0 3,4 0 0
22 I nt e r e s t r e v e nu e 409 B a nk a c c ou nt 250 250
23 B a m M oo r e I nv oi c e,Fe b 1 3 343 7 350
25 P a ul R ot h I nv oi c e,Fe b 1 7 196 4 200
28 S a l e s C a s h s a l e 4,2 2 5 4,2 2 5 3,0 5 0
28 To t a l 1 9,7 7 0 30 1,5 0 0 1 7,3 0 0 1,0 0 0 1 2,5 5 0
( 1 0 1 ) ( 4 1 5 ) ( 1 0 6 ) ( 4 1 3 ) ( x ) ( 5 0 2 / 1 1 9 )
29
Purchases Journal
A m o u n t i s n o t p o s t e d i n d i v i d u a l l y t o a n a c c o u n t,
A m o u n t i s p o s t e d i n d i v i d u a l l y t o s u b s i d i a r y l e d g e r,
A c c t,N o,A m o u n t i s p o s t e d t o s p e c i f i e d a c c o u n t,?
P U R C H A S E S J O U R N A L P a ge 3
D a t e A c c ou nt
I nv oi c e
D a t e Te r m s PR
A c c t s,
P a y a bl e
C r,
I nv e nt ory
D r,
O f f i c e
S up pl i e s
D r,
O t he r
A c c t s,
D r,
2005
Fe b 3 H orun g S up pl y C o Fe b,2 n/ 3 0 350 275 75
5 A c e M f g,C o 5 2 / 1 0,n/ 3 0 200 200
13 W y ne t & C o,10 2 / 1 0,n/ 3 0 150 150
20 S m i t e C o,18 2 / 1 0,n/ 3 0 300 300
25 A c e M f g,C o 24 2 / 1 0,n/ 3 0 100 100
28 S t ore s up pl i e s / I TT C o,28 n/ 3 0 125 / 225 125 25 75
28 To t a l s 1,3 2 5 1,1 5 0 100 75
( 2 0 1 ) ( 5 0 5 ) ( 1 2 4 ) ( )?
30
Cash Payments Journal
C A S H P a y m e n ts J O U R N A L P a ge 1
D a t e C h,N o,P a y e e A c c ou nt D e bi t e d PR
C a s h
C r,
M e r c h.
I nv e nt ory
C r,
O t he r
A c c ou nt s
D r,
A c c ou nt s
P a y a bl e
D r,
2001
Fe b,3 105 L & N R a i l r oa d I nv e nt ory 119 15 15
5 106 E a s t S a l e s C o,I nv e nt ory 119 25 25
13 107 A c e M f g,C o A c e M f g,C o,196 4 200
20 108 J e r r y H a l e S a l a r i e s e x pe ns e 622 250 250
25 109 W y ne t & C o,W y ne t & C o,147 3 150
28 110 S m i t e C o,S m i t e C o,294 6 300
28 To t a l s 927 13 290 650
( 1 0 1 ) ( 1 1 9 ) ( ) ( 2 0 1 )
A m o u n t i s n o t p o s t e d i n d i v i d u a l l y t o a n a c c o u n t,
A m o u n t i s p o s t e d i n d i v i d u a l l y t o s u b s i d i a r y l e d g e r,
A c c t,N o,A m o u n t i s p o s t e d t o s p e c i f i e d a c c o u n t,
31
General Journal Transactions
Adjusting Entries
Reversing Entries
Transactions not recorded in Special
Journals
32
Computerized AIS
Computerized accounting systems have
become more widely used as the cost of
computer hardware and software has
declined
Why did we study manual accounting
systems?
The concepts for a manual system has also
apply to computerized systems
33
Computerized
accounts receivable system
Invoice
file
Cash
receipt
file
Customer account balance
customer invoice,and cash
receipts summary report
Customers
Electronic Accounts
Receivable subsidiary
and general ledgers
Customer
Checks
Customer
Invoices
The End of Lesson 8
