1. Special Journals
1.1. Similar transactions are recorded into one book in order of date.
1.2. Purchases Journal
1.2.1. records all credit purchases of goods meant for resale (excluding purchases of goods with cash or purchase of fixed assets).
1.3. Purchases Returns Journal/ Return Outwards
1.3.1. records return goods to the supplier and any reduction of invoice price resulting from previous overcharging in the invoice sent by the supplier.
1.4. Sales Journal
1.4.1. records sales of goods to customers on credit.
1.5. Sales Returns Journal/ Returns Inwards
1.5.1. records goods returned by the customers and any allowance or reduction due to the overcharging in the previous invoices.
2. Cash Book
2.1. Serves as a book of prime entry when information from source documents is recorded straight into the cash book without going through the journal. Also serves as a ledger as it contains both the cash account and the bank account for recording cash transactions.
2.2. Petty Cash Book
2.2.1. The Imprest System: under this system, the petty cashier is always reimbursed with the amount of petty cash paid out so that at the beginning of every period, he will start with the same amount of petty cash book.
2.2.2. to record receipts and payments involving the petty cash fund.