Special Journals and Ledgers
Authors
If only journal is used, the number of transactions that can be recorded in a journal by one man will be small. Hence, special journals are created and several persons write journals that contain a specific category of transactions. These special journals reduce the work involved in journal writing because of their special formats. Use of thes special journals also makes it easy to use them as ledger accounts also and therefore instead of making one ledger entry for each transaction only summary entry for a day etc. can be posted in the general ledger (main ledger as there will be special ledgers also similar to special journals).
The special journals are:
1. Purchases journal (purchases book)
2.Sales journal (sales day book)
3. Purchase returns journal
4.Sales return journal
5. Bills receivable book
6. Bills payable book
7. Cash book
8. Petty cash book
Special Ledgers
1. Debtors ledger
2. Creditors ledger
3. Fixed asset ledger or register
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