Special journal:
By Special journal we mean, a journal in which transactions relating to a certain special group are recorded. Special journal is divided in to eight groups.
Purchase Book or Purchases journal:
Whenever goods are purchased by a businessman on credit, these are recorded in this book. So this is a 'special journal' only and only for credit purchases.
Sales Book or Sales Journal:
Whenever goods are sold to the customers on credit, these are recorded in this book. So this is a 'special journal' only and only for credit sales.
Purchases Return Book or Purchases Returns Journal:
The goods we have bought on credit if subsequently returned by us to the suppliers for some solid reasons, are recorded in this book. So this is a 'special journal' only for credit sales.
Sales Return Book or Sales Returns Journal:
The goods we have sold on credit if subsequently returned by the customers for some solid reasons are recorded in this book.
Bills Receivable Book:
Sometimes debtors pay by means of accepting a bill of exchange instead of cash. All the bills received from the debtors are recorded in this book.
Bills Payable Book:
Sometimes creditors are paid by means of accepting the bills drawn by them instead of paying cash. All the bills given to the creditors are recorded in this book.
Cash Book or cash Journal:
All the transactions, in which cash is involved, are recorded in this book.
Petty Cash Book:
Apart from cash book, for small or petty expenses, another book is maintained which is known as 'Petty Cash Book'. The expenses such as traveling, coolie, postage etc. are recorded in this book. It is a part of the cash book.
By Special journal we mean, a journal in which transactions relating to a certain special group are recorded. Special journal is divided in to eight groups.
Purchase Book or Purchases journal:
Whenever goods are purchased by a businessman on credit, these are recorded in this book. So this is a 'special journal' only and only for credit purchases.
Sales Book or Sales Journal:
Whenever goods are sold to the customers on credit, these are recorded in this book. So this is a 'special journal' only and only for credit sales.
Purchases Return Book or Purchases Returns Journal:
The goods we have bought on credit if subsequently returned by us to the suppliers for some solid reasons, are recorded in this book. So this is a 'special journal' only for credit sales.
Sales Return Book or Sales Returns Journal:
The goods we have sold on credit if subsequently returned by the customers for some solid reasons are recorded in this book.
Bills Receivable Book:
Sometimes debtors pay by means of accepting a bill of exchange instead of cash. All the bills received from the debtors are recorded in this book.
Bills Payable Book:
Sometimes creditors are paid by means of accepting the bills drawn by them instead of paying cash. All the bills given to the creditors are recorded in this book.
Cash Book or cash Journal:
All the transactions, in which cash is involved, are recorded in this book.
Petty Cash Book:
Apart from cash book, for small or petty expenses, another book is maintained which is known as 'Petty Cash Book'. The expenses such as traveling, coolie, postage etc. are recorded in this book. It is a part of the cash book.