Archive | Journal

Difference between Journal and Ledger

Here we detail about the difference between journal and ledger Journal: 1. In the journal, business transactions are recorded first. 2. In journal, all transactions are recorded in the chronological order. 3. In journal , both debit and credit aspect are recorded for each transaction 4. In the case of journal, net positions of any […]

Posting Rules from Journal to Ledger

Let us make in-depth study of the rules and respective ledger accounts in posting from Journal to Ledger. Journal is daily diary of a business enterprise in which all monetary transactions are recorded in chronological order. Posting from journal means transferring amounts from journal to the respective accounts in the ledger. The basic aim of […]

Difference between General Journal and Special Journal

Difference between General Journal and Special Journal! General Journal (Journal Proper): 1. General journal is a book of original entry in which only those transactions are recorded that cannot be recorded in special journals. 2. All the entries are recorded in their respective ledger accounts. 3. Format of general journal is same as of journal. […]

Top 7 Types of Subsidiary Books – Discussed!

Here we detail about the seven types of subsidiary books, i.e, (i) Purchases Book, (ii) Sales Book, (iii) Purchases Return Book, (iv) Sales Return Book, (v) Bills Receivable Book, (vi) Bills Payable Book and (vii) Journal Proper. 1. Purchase Book or Purchase Journal: Purchase book is a book of original entry in which only credit […]

Meaning and Utility of Subsidiary Books

Let us make in-depth study of the meaning and utility of subsidiary books of journal. Meaning of Subsidiary Books: Subsidiary books are the sub-divisions of journal, in which specific transactions of similar nature are recorded. We know that the transactions involving cash or bank are recorded in the cash book, a book of original entry. […]

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