Entity: PURCHASE-DAY-BOOK
A Purchase Day Book, also known as a Purchase Journal, is a special purpose subsidiary book used in accounting to record all credit purchases of goods.
Purchase-Day-Book
Etymology
The term 'Purchase Day Book' originates from the accounting practice of recording credit purchases of goods in a specialized ledger.
Definition
A Purchase Day Book, also referred to as a Purchase Journal, is a crucial accounting document where all credit purchases of goods are meticulously recorded.
Historical Context
The Purchase Day Book has been a fundamental tool in manual accounting systems, serving as a primary record of credit transactions for goods purchased.
Cultural Significance
In the realm of accounting and finance, the Purchase Day Book plays a vital role in maintaining accurate financial records and ensuring transparency in business transactions.
Related Concepts
- Sales Day Book
- General Ledger
- Accounts Payable
See Also
An essential accounting ledger where purchasing transactions are meticulously recorded, particularly credit purchases of goods.