Purchases (Journal) Book.

 The purchases journal, also known as the purchases book or purchases daybook, is an accounting book used to record all credit purchases made by a company. It is a subsidiary ledger that keeps track of all purchases made on credit and helps the company to maintain accurate records of its expenses.

The purchases journal typically includes the following information:

1. Date of the transaction
2. Name and address of the supplier
3. Invoice number
4. Description of the goods purchased
5. Quantity of the goods purchased
6. Unit price of the goods purchased
7. Total amount of the purchase

Each purchase made on credit is recorded in the purchases journal as a separate entry, with a unique reference number assigned to each entry. The entries are usually recorded in chronological order.

The purchases journal is used to track all credit purchases made by the company, including purchases of goods and services for resale, as well as purchases of supplies and equipment for use in the business. This book is important because it helps the company to monitor its expenses and to ensure that it is not overpaying for goods and services.

At the end of each accounting period, the total of the purchases journal is posted to the general ledger as a debit to the accounts payable account and a credit to the purchases account. This ensures that the company's accounts are accurate and up-to-date.