In a school, the primary books of accounts include the general ledger, which records all financial transactions; the cash book, which tracks cash inflows and outflows; and the student fee register, detailing all fee payments and outstanding balances. Additionally, schools maintain payroll records for staff salaries and benefits, as well as inventory records for supplies and assets. These records ensure accurate tracking of financial activities and compliance with accounting standards.
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Why a joint stock company is legally bound to maintain proper books of accounts? What do you know about the authentication of accounting records? please give me answare today i need it. my E-mail is .........mubashar229@yahoo.com........i am waiting................................................................
The Bookkeeper is required to maintain the books. The accountant has to check the accuracy of the bookkeeper and finally the accounts are audited by he auditors to verify the completeness and accuracy.
Primary books of accounts are those books in which business transactions are recorded at first, i.e., journals - special journals as well as general journal.
To maintain accounts
Noramally books of accounts are preserved for five years
purchase
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When recording done as journal entry any business transaction is recorded in books of accounts and become part of business books of accounts.
It is a branch which had able to prepare its own accounts on its books then we say that is an independent branch. Accounts prepared by it is technically called as independent branch accounts.
Books are avaliable normally in the school library.
It is possible to enter a proforma invoice in account books. However, it is not required, because a proforma invoice is not considered as an accounts receivable.