A purchase journal is a specialised 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.[1]

Simply a purchase journal can be defined as the main entry book which is used to record credit transactions (credit purchases) for resalable purposes.[2]

The Source document which is used as an evidence in recording transactions into purchase journal is Purchase 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

References

  1. ↑ "Purchases Journal - Definition | Meaning | Example". My Accounting Course. Retrieved 2017-10-09.
  2. ↑ "Purchases Journal - An Example - AccountingExplanation.com". www.accountingexplanation.com. Retrieved 2017-10-09.
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