Difference Between Sales Journal And Purchases Journal

Difference Between Sales Day Book And Purchases Day Book

Sales Journal is used to record credit sales transactions (sales on account transactions) such as goods or merchandise sold on account, etc., transferred from sales invoice and these are recorded chronologically (date-wise) while Purchase Journal records credit purchases transactions such as goods bought on credit from suppliers, raw material purchased on credit to make goods to sell the customers in case of manufacturing business, etc., initially recorded in the purchase invoice according to date sequence.

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We get the information about Customers' name lists from Sales Journal while Purchases Journal shows us the complete list of vendors or Suppliers' lists from whom the company purchased goods on credit or account during the accounting period / accounting cycle.

So, we can say that there are differences between sales journal and purchases journal but the similarity between these two journals is that both are very important parts of the phase of accounting known as Bookkeeping to track sales (revenues) and purchases (purchases) of a business during the period.