A purchase journal is an
accounting journal and it is also a prime entry book/daybook/main entry book which is used in an accounting system to keep track of the orders of items placed using
accounts payable.
Simply a purchase journal can be defined as the main entry book which is used to record
credit transactions (credit purchases) for resalable purposes.
The
Source document which is used as an evidence in recording transactions into purchase journal is Purchase invoice/invoice received/original invoice
Credit purchase of current assets/Non current assets are not considered when recording in Purchase journal.
Double entry related to credit purchase for resalable purpose
*Purchase a/c Debit
*Creditors a/c Credit
See also
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Sales journal
A sales journal is a specialized accounting journal and it is also a prime entry book used in an accounting system to keep track of the sales of items that customers(debtors) have purchased of an accounts receivable account and crediting revenue ...
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General journal
A general journal is a Bookkeeping#Daybooks, daybook or subsidiary journal in which transactions relating to adjustment entries, opening stock, depreciation, accounting errors etc. are recorded. The Source document (accounting), source documents ...
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Bookkeeping
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and other organizations. It involves preparing source documents for all transactions, operations, and other events of a business. T ...
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Special journals
Special journals (in the field of accounting) are specialized lists of financial transaction records which accountants call journal entries. In contrast to a general journal, each special journal records transactions of a specific type, such as ...
References
{{Reflist
Accounting journals and ledgers
Accounts payable