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FAC1502: STUDY UNIT 5C – PROCESSING ACCOUNTING DATA

Study Unit 5(C) covers the following:

  • Sales Journal
  • Sales Return Journal


Sales Journal and Sales Return Journal

Download these slides for this Study Unit before you proceed. Please note that the layout is set as two slides per page:

Handout: Study Unit 5C – Processing Accounting Data PART C (PDF)

We’ll need the following handout for the Class Example we’re going to do for the SJ and SRJ.

This includes:

  • Required
  • Format for the SJ
  • Format for the SRJ
  • Format for the GJ
  • Format for the GL
  • Solution for the SJ
  • Solution for the SRJ
  • Solution for the GJ
  • Solution for the GL

Handout: Class Example – Best Skin Care: Sales Journal and Sales Returns Journal (PDF)

Lecture 1: Sales Journal – What is it? (VIDEO)

We introduce the Sales Journal, including VAT, and show you what it looks like, along with a short example of how to post the transaction to the General Ledger.

Lecture 2: Sales Returns Journal: What is it? (VIDEO)

We introduce the Sales Returns Journal, including VAT, and show you what it looks like, along with a short example.

Lecture 3: Best Skin Care SJ & SRJ – Class Example (VIDEO)

Attempt the question on the Sales Journal and Sales Returns Journal, then watch the feedback videos.

Lecture 4: Best Skin Care SJ to GL – Class Example (VIDEO)

Attempt the question on the posting of the Sales Journal and Sales Returns Journal, then watch the feedback videos.  Note, the treatment of VAT in the GL and the Journals required to close VAT Output to the VAT Control account.