5.6

POSTING THE CASH

PAYMENTS JOURNAL

Video of this presentation at…

YouTube Channel for VCE Accounting

© Michael Allison. Author’s permission required for external use.

At the end of the period, the monthly totals must be “posted” to the

relevant General Ledger accounts

Cash at Bank [A]

31/1 Cash payments 3700Posted on last

day of period

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

5.6 POSTING THE CASH PAYMENTS

JOURNAL

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

Debit Credit

Assets

Cash at Bank [A]

31/1 Cash payments 3700

Debit Credit

Assets

© Michael Allison. Author’s permission required for external use.

Creditors [L]

31/1 Cash payments 3700Posted on last

day of period

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

5.6 POSTING THE CASH PAYMENTS

JOURNAL

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

Debit Credit

Liabilities

Creditors [L]

31/1 Cash 394

Debit Credit

Liabilities

© Michael Allison. Author’s permission required for external use.

Stock [A]

31/1 Cash payments 3700Posted on last

day of period

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

5.6 POSTING THE CASH PAYMENTS

JOURNAL

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

Debit Credit

Assets

Stock [A]

31/1 Cash 1300

Debit Credit

Assets

© Michael Allison. Author’s permission required for external use.

Advertising [E]

31/1 Cash payments 3700Posted on last

day of period

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

5.6 POSTING THE CASH PAYMENTS

JOURNAL

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

Debit Credit

Expenses

Advertising [E]

31/1 Cash 160

Debit Credit

Expenses

© Michael Allison. Author’s permission required for external use.

Wages [E]

31/1 Cash payments 3700Posted on last

day of period

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

5.6 POSTING THE CASH PAYMENTS

JOURNAL

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

Debit Credit

Expenses

Wages [E]

31/1 Cash 800

Debit Credit

Expenses

© Michael Allison. Author’s permission required for external use.

Drawings [-OE]

31/1 Cash payments 3700Posted on last

day of period

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

5.6 POSTING THE CASH PAYMENTS

JOURNAL

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

Debit Credit

Negative OE

Drawings [-OE]

31/1 Cash 350

Debit Credit

Negative OE

© Michael Allison. Author’s permission required for external use.

GST [L]

31/1 Cash payments 3700Posted on last

day of period

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

5.6 POSTING THE CASH PAYMENTS

JOURNAL

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

Debit Credit

Liability

GST [L]

31/1 Cash 196

Debit Credit

Liability

© Michael Allison. Author’s permission required for external use.

Insurance [E]

31/1 Cash payments 3700Posted on last

day of period

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 11 Insurance 906 550 500 50

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

5.6 POSTING THE CASH PAYMENTS

JOURNAL

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 11 Insurance 906 550 500 50

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

Debit Credit

Expenses

Insurance [E]

31/1 Cash 500

Debit Credit

Expenses

Sundries

There is no

Sundries

ledger

As Sundries represent

the firm’s “irregular”

items, each transaction

is entered individually in

its own ledger

© Michael Allison. Author’s permission required for external use.

5.6 POSTING THE CASH PAYMENTS

JOURNALCash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

Creditors [L]

31/1 Cash 394

Cash at Bank [A]

31/1 Cash payments 5700

Cr

Stock [A]

31/1 Cash 1300

Advertising [E]

31/1 Cash 160

Wages [E]

31/1 Cash 800

Drawings [-OE]

31/1 Cash 800

GST [L]

31/1 Cash 800

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

Cash at Bank [A]

31/1 Cash payments 5700

Cash Payments Journal

Date Details Cheque

Number

Bank Creditors

Control

Stock

Control

Advert-

ising

Wages Drawing

s

Sundries GST

Jan 31 Total payments 3700 394 1300 160 800 350 500 196

Creditors [L]

31/1 Cash 394

Stock [A]

31/1 Cash 1300

Advertising [E]

31/1 Cash 160

Wages [E]

31/1 Cash 800

Drawings [-OE]

31/1 Cash 800

GST [L]

31/1 Cash 800

Dr Dr Dr Dr Dr Dr Dr

© Michael Allison. Author’s permission required for external use.

TASK

In-class Homework

Ex5.3 X

Ex5.4 X