Transactions: cup 1 Paid an amount of R7 500 to Diamond for rental of the business office space. 3 The owner, Mrs Tau, contributed a personal motorbike with value of R25 000 to be used by Batau Enterprise 7 Sold goods with cost price of R9 000 to Mr Zebra, a debtor. 9 Donated goods with selling price of R2 000 to Donata Pre-school 13 Mr Zebra returned goods with selling price of R1 500. (refer to No 7) 15 Paid R23 000 for the fortnightly wages. 19 Paid The Elephant R2 500 in full settlement of our account of R2 750. 22 Cash sales as per cash register roll amounted to R10 000 23 Mrs Tau took some cash (R500) from the cash register for personal use. 24 Bought a computer and printer for the office on credit from Rafiki Suppliers, R5 000. 28 Received R11 250 from Mr Zebra for early settlement of invoice of R12 500 from previous month.

Did you know that the concept of business transactions dates back to ancient Mesopotamia? The Sumerians were among the first to develop a system of writing, which included keeping records of trade and goods exchanged. They used clay tablets for documenting transactions, much like how we use modern accounting systems today. This early form of bookkeeping laid the groundwork for the financial systems we rely on in our businesses now! When managing accounts for a growing business like Batau Enterprise, one common mistake is not properly documenting all transactions, especially non-cash items like owner contributions or returned goods. Make it a habit to regularly update your records and categorize each transaction correctly. This ensures you’ll have an accurate financial picture and can make informed decisions as your business expands!