Subsidiary Ledger

Subsidiary ledger is the supporting ledger of related accounts that in total equals the control account appearing in the General Ledger. In some cases, a business may need more detailed information, such as individual customer receivable balances or the amount owed to...

Cash Disbursement Journal

Cash disbursement journal is a book that is used to record all payments made in cash such as for accounts payable, merchandise purchases and operating expenses, also termed as cash payments journal. There are usually separate columns for the date, check number,...

Cash Receipts Journal

Cash receipts journal is a book used to record all transactions involving receipt of cash. Examples are cash sales, receipt of interest and dividend revenue, collections from customer accounts and cash sale of assets. Typically there are separate columns for the date,...

Purchases Journal

What is purchases journal? It is a recording of purchases of merchandise on credit only in the purchases journal. In this instance, the term merchandise refers to the goods acquired for resale to customers. Merchandise purchased for cash is recorded in the cash...

Sales Journal

Sales journal is a special book to record sale of merchandise in which credit sales are recorded. The total columns of the sales journal are posted as a debit to accounts receivable and a credit to sales. Separate columns may exist to classify sales by category. Cash...

Specialized Journals

Many organizations often incur the same kind of transaction, such as a sale of merchandise on credit, many times during any given day. To save time, a specialized journal is used for that kind of transaction only. The most common kinds of specialized journals are:...
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