Columns That Are Typically Used In The Purchase Journal.

A Purchase Journal is a record of all acquisitions made on credit during a period. In other words, this is the Journal that keeps track of the orders placed using vendor credit or accounts payable as well as the current balance owed to each vendor.

There are six columns that are typically used in the Purchase Journal:

1. Date.
2. Particulars.
3. Ledger Folio (L.F.).
4. Invoice No.
5. Details.
6. Amount.

The six columns can be explained as follows:

1. Date: This column is used to write date of a particular purchase or acquisition made on credit.
2. Particulars: This column is used to record the description as to from whom a particular purchase or acquisition is made on credit.
3. Ledger Folio (L.F.): A Ledger Folio, often abbreviated in accounting as L.F., is nothing but the page number of an entry in the company’s Ledger.
4. Invoice No.: This column is used to record Invoice No. of a credit purchase transaction.
5. Details: This column is used to record details (Trade Discount, Freight, Taxes or Duties etc.) of a credit purchase transaction.
6. Amount: This column is used to record amount of a credit purchase transaction.