1027:, transactions are recorded in several lines (see Figure 1), and each transaction is posted to the general ledger separately. For example, if fifty sales on account were made during one day, fifty ledger postings would have to be made to three general ledger accounts: Accounts Receivable, Sales, and Sale Tax Payable. In special journal, transactions are recorded in a single line, and the format of the journal made it possible to post only the total amount for each account to the general ledger. For example, if fifty sales on account were made during one day, only the total amount for Accounts Receivable, Sales, and Sales Tax Payable were posted to the general ledger. Thus the posting process is more efficient. Figure 2 shows the example formats of the Special Journals.
48:
744:(CRJ) records transactions that involve payments received with cash. Source documents would probably be receipts and cheque butts. The CRJ records the cash inflow of a business. Discount allowed is an expense as the discount allowed is the cost to the seller of obtaining an inflow of cash from a debtor weeks earlier than would be the case.
978:
Folio Number: Every page of a journal is numbered. This number is known as a folio number. The folio number is used as a cross reference between the journal and the ledger accounts. The use of folio numbers makes it easy to refer back from the ledger account to the journal entry or forward from the
662:
The types of
Special Journals that a business uses are determined by the nature of the business. Special journals are designed as a simple way to record the most frequently occurring transactions. There are four types of Special Journals that are frequently used by merchandising businesses: Sales
1014:
record purchases or sales on credit. If the transaction is of a credit nature, you will assume that the cash will be exchanged after the exchange of the good or service. At this stage, these will only be concerned with your firm acquiring stock and the selling of that stock to customers who will pay
916:
When a transaction occurs between a business and an external party, a source document will usually be created. Source documents are business forms that provide evidence of each transaction and give the details that are entered later into one of the journals in a computer accounting system. Some
854:
Cash
Payments Journals record transactions that involve expenditures paid with cash and involves the cash Source documents are likely receipts and cheque butts. The CPJ records the cash outflow of a business. If the owner of a business withdraws cash from the business an entry is made in the CPJ.
680:
record transactions that involve sales purely on credit. Source documents here would probably be invoices. Provides a chronological record of all credit sales made in the life of a business. Credit sales are transactions where the goods are sold and payment is received at a later date. The source
1007:
record items sold or purchased with cash and they also record income received (debtor payment, interest) and daily expenses. If the transaction is of a cash nature, you must be convinced that money/cheque/credit card was also exchanged at the time that the good or service was exchanged.
957:
is a document that sets out the type and quantity of the inventory delivered to the purchaser. When the inventory arrives at the premises of the purchaser, the delivery note is signed by the purchaser and is evidence that the goods ordered have been delivered. A copy is kept by the
695:
Choose credit sales journal if this stock is then on-sold to customers who will pay later. The people/organizations here are known as debtors. Collectively, all these accounts that are to be paid to us by our customers are known as assets.
810:
Purchases
Journals record transactions that involve purchases purely on credit. Source documents are invoices. For instance, the purchase of inventory on credit is recorded in the purchases journal.
654:. For example, when a company purchases merchandise from a vendor, and then in turn sells the merchandise to a customer, the purchase is recorded in one journal and the sale is recorded in another.
924:
when a business receives money or cheques over the shop counter it will usually issue a receipt. A receipt is a document that acknowledges that money or cheques have been received.
985:
Each journal has a folio number column. The number of the ledger account to which the journal entry was posted is recorded in the folio number column of the journal.
982:
Each ledger account has a folio number column. The name and page of the journal from which the ledger entry came is recorded in the folio number column.
974:
is a document issued by a seller that acknowledges that a customer is entitled to receive a reduction in the amount owing on goods purchased on credit.
917:
computer systems, such as payroll systems, also generate transactions that are recorded in one or more journals, but without paper source documents.
979:
journal entry to the ledger account. In addition, folio numbers are a check that all journal entries have been recorded in the ledger system.
951:. The origin of the invoice is either delivered with the goods or sent separately to the customer. A number of copies are kept by the seller.
312:
1651:
297:
1637:
1612:
1579:
1545:
1511:
1471:
302:
943:, buyer details, date, description of goods purchased, quantity, unit price, amount (per item x quantity), total price and
611:
462:
166:
63:
17:
317:
307:
73:
1632:
Heintz, James A. and Parry, Robert W. Jr. (2008). College
Accounting (19th Edition) P440-459. Thomson South-Western.
369:
497:
374:
322:
265:
406:
359:
855:
Discount received is the cash discount received by a purchaser, it is an income item for the purchaser.
1503:
604:
411:
47:
245:
121:
1569:
537:
472:
196:
1535:
1461:
1602:
940:
741:
635:
522:
260:
126:
68:
572:
111:
8:
1496:
597:
562:
557:
532:
527:
467:
396:
354:
336:
289:
270:
201:
106:
31:
401:
236:
191:
1633:
1608:
1575:
1541:
1507:
1467:
582:
577:
156:
131:
364:
250:
663:
journals, Cash receipts journals, Purchases journals, and Cash payments journals.
1024:
944:
681:
documents for the Sales journal are copies of all invoices given to the debtors.
643:
452:
416:
206:
186:
171:
116:
101:
58:
457:
425:
136:
1459:
1645:
677:
672:
639:
567:
430:
349:
344:
181:
502:
241:
388:
947:. An invoice is a document that records the details of a credit sale of
688:
Debit – debtors account with value of sales (increasing a current asset)
646:, each special journal records transactions of a specific type, such as
631:
492:
176:
39:
1567:
1460:
Jerry J. Weygandt; Paul D. Kimmel; Donald E. Kieso (5 January 2010).
948:
651:
1533:
936:
275:
255:
161:
992:
421:
96:
1568:
Jan
Bebbington; Rob Gray; Richard Laughlin (16 August 2001).
647:
444:
226:
91:
691:
Credit – sales account with total amount (increasing income)
231:
1595:
1534:
Claudia B. Gilbertson; Mark W. Lehman (12 March 2008).
1455:
1453:
1527:
1495:
1493:
624:Specialized lists of financial transaction records
1561:
1450:
995:, cheques, credit cards. Receipts and payments.
1643:
935:includes business name (sellers) and address,
1571:Financial accounting: practice and principles
1018:
605:
657:
313:International Financial Reporting Standards
1607:. Pearson South Africa. 2002. p. 93.
1487:
1287:Purchased Debit / Accounts Payable Credit
612:
598:
1001:sale of inventory on credit Purchases.
899:people who are also in purchases journal
1502:. Barron's Educational Series. pp.
849:
735:
684:Double entry Accounting is achieved by:
1494:Wallace W. Kravitz (1 September 1999).
14:
1644:
788:people who are also in sales journal
303:Generally-accepted auditing standards
1574:. Cengage Learning EMEA. p. 6.
1537:Fundamentals of Accounting: Course 1
1466:. John Wiley and Sons. p. 608.
902:other types of expenses description
805:
911:
800:
318:International Standards on Auditing
24:
791:other types of income description
25:
1663:
1540:. Cengage Learning. p. 242.
375:Notes to the financial statements
666:
323:Management Accounting Principles
46:
1652:Accounting journals and ledgers
638:records which accountants call
779:who you received payment from
13:
1:
1443:
298:Generally-accepted principles
7:
1604:world of working accounting
1166:Accounts Receivable Credit
634:) are specialized lists of
10:
1668:
1048:Accounts Receivable Debit
1019:Format of special journals
670:
1172:Sales Tax Payable Credit
1054:Sales Tax Payable Credit
658:Types of special journals
167:Constant purchasing power
64:Constant purchasing power
1498:Bookkeeping the Easy Way
498:Accounting organizations
486:People and organizations
1362:Accounts Payable Debit
722:who did you sell it to
246:Amortization (business)
1341:CASH PAYMENTS JOURNAL
887:date payment was made
1463:Accounting Principles
1148:CASH RECEIPT JOURNAL
850:Cash payments journal
742:cash receipts journal
736:Cash receipts journal
636:financial transaction
370:Management discussion
1281:From Whom Purchased
1249:Interest Receivable
967:Purchase requisition
727:sequential - #order
337:Financial statements
290:Accounting standards
18:Specialized journals
905:amount out of bank
833:date sale was made
776:date sale was made
719:date sale was made
642:. In contrast to a
563:Earnings management
533:Positive accounting
407:Double-entry system
397:Bank reconciliation
202:Revenue recognition
1269:PURCHASES JOURNAL
870:discount received
538:Sarbanes–Oxley Act
473:Sarbanes–Oxley Act
402:Debits and credits
237:Cost of goods sold
192:Matching principle
1638:978-0-324-37616-6
1614:978-0-7986-6147-8
1581:978-1-86152-771-4
1547:978-0-538-44826-0
1513:978-0-7641-1079-5
1473:978-0-470-57725-7
1441:
1440:
1365:Purchases Credit
1339:
1338:
1267:
1266:
1157:Account Credited
1146:
1145:
909:
908:
847:
846:
836:name of supplier
806:Purchases journal
798:
797:
794:amount into bank
759:discount allowed
733:
732:
630:(in the field of
622:
621:
583:Two sets of books
578:Off-balance-sheet
220:Selected accounts
157:Accounting period
16:(Redirected from
1659:
1626:
1625:
1623:
1621:
1599:
1593:
1592:
1590:
1588:
1565:
1559:
1558:
1556:
1554:
1531:
1525:
1524:
1522:
1520:
1501:
1491:
1485:
1484:
1482:
1480:
1457:
1353:Account Debited
1344:
1343:
1272:
1271:
1151:
1150:
1033:
1032:
912:Source documents
858:
857:
813:
812:
801:Expense journals
747:
746:
699:
698:
628:Special journals
614:
607:
600:
50:
27:
26:
21:
1667:
1666:
1662:
1661:
1660:
1658:
1657:
1656:
1642:
1641:
1630:
1629:
1619:
1617:
1615:
1601:
1600:
1596:
1586:
1584:
1582:
1566:
1562:
1552:
1550:
1548:
1532:
1528:
1518:
1516:
1514:
1492:
1488:
1478:
1476:
1474:
1458:
1451:
1446:
1163:General Credit
1025:general journal
1021:
1012:Credit Journals
928:Check book stub
914:
852:
841:not sequential
808:
803:
738:
675:
669:
660:
644:general journal
640:journal entries
625:
618:
589:
588:
587:
552:
544:
543:
542:
517:
509:
508:
507:
487:
479:
478:
477:
447:
437:
436:
435:
391:
381:
380:
379:
339:
329:
328:
327:
292:
282:
281:
280:
221:
213:
212:
211:
207:Unit of account
187:Historical cost
172:Economic entity
151:
143:
142:
141:
86:
78:
59:Historical cost
23:
22:
15:
12:
11:
5:
1665:
1655:
1654:
1628:
1627:
1613:
1594:
1580:
1560:
1546:
1526:
1512:
1486:
1472:
1448:
1447:
1445:
1442:
1439:
1438:
1435:
1433:
1430:
1428:
1426:
1423:
1420:
1416:
1415:
1412:
1410:
1407:
1405:
1403:
1400:
1397:
1393:
1392:
1389:
1387:
1385:
1382:
1380:
1377:
1374:
1370:
1369:
1366:
1363:
1360:
1359:General Debit
1357:
1354:
1351:
1348:
1337:
1336:
1333:
1331:
1328:
1325:
1321:
1320:
1317:
1315:
1312:
1309:
1305:
1304:
1301:
1299:
1296:
1293:
1289:
1288:
1285:
1282:
1279:
1276:
1265:
1264:
1261:
1259:
1257:
1254:
1252:
1250:
1247:
1243:
1242:
1239:
1237:
1235:
1232:
1230:
1228:
1225:
1221:
1220:
1217:
1215:
1213:
1210:
1208:
1206:
1203:
1199:
1198:
1195:
1193:
1191:
1188:
1186:
1184:
1181:
1177:
1176:
1173:
1170:
1167:
1164:
1161:
1158:
1155:
1144:
1143:
1140:
1137:
1134:
1132:
1129:
1126:
1122:
1121:
1118:
1115:
1112:
1110:
1107:
1104:
1100:
1099:
1096:
1093:
1090:
1088:
1085:
1082:
1078:
1077:
1074:
1071:
1068:
1066:
1063:
1060:
1056:
1055:
1052:
1049:
1046:
1043:
1040:
1037:
1030:SALES JOURNAL
1020:
1017:
976:
975:
969:
964:
962:Purchase order
959:
952:
930:
925:
913:
910:
907:
906:
903:
900:
897:
895:
893:
891:
888:
884:
883:
880:
877:
874:
871:
868:
865:
862:
851:
848:
845:
844:
842:
839:
837:
834:
830:
829:
826:
823:
820:
817:
807:
804:
802:
799:
796:
795:
792:
789:
786:
784:
782:
780:
777:
773:
772:
769:
766:
763:
760:
757:
754:
751:
737:
734:
731:
730:
728:
725:
723:
720:
716:
715:
712:
709:
706:
703:
693:
692:
689:
678:Sales journals
671:Main article:
668:
665:
659:
656:
623:
620:
619:
617:
616:
609:
602:
594:
591:
590:
586:
585:
580:
575:
570:
565:
560:
554:
553:
550:
549:
546:
545:
541:
540:
535:
530:
525:
519:
518:
515:
514:
511:
510:
506:
505:
500:
495:
489:
488:
485:
484:
481:
480:
476:
475:
470:
465:
460:
455:
449:
448:
443:
442:
439:
438:
434:
433:
428:
426:General ledger
419:
414:
409:
404:
399:
393:
392:
387:
386:
383:
382:
378:
377:
372:
367:
362:
357:
352:
347:
341:
340:
335:
334:
331:
330:
326:
325:
320:
315:
310:
305:
300:
294:
293:
288:
287:
284:
283:
279:
278:
273:
268:
263:
258:
253:
248:
239:
234:
229:
223:
222:
219:
218:
215:
214:
210:
209:
204:
199:
194:
189:
184:
179:
174:
169:
164:
159:
153:
152:
149:
148:
145:
144:
140:
139:
134:
129:
124:
119:
114:
109:
104:
99:
94:
88:
87:
84:
83:
80:
79:
77:
76:
71:
66:
61:
55:
52:
51:
43:
42:
36:
35:
9:
6:
4:
3:
2:
1664:
1653:
1650:
1649:
1647:
1640:
1639:
1635:
1616:
1610:
1606:
1605:
1598:
1583:
1577:
1573:
1572:
1564:
1549:
1543:
1539:
1538:
1530:
1515:
1509:
1505:
1500:
1499:
1490:
1475:
1469:
1465:
1464:
1456:
1454:
1449:
1436:
1434:
1431:
1429:
1427:
1424:
1421:
1418:
1417:
1413:
1411:
1408:
1406:
1404:
1401:
1398:
1395:
1394:
1390:
1388:
1386:
1383:
1381:
1379:Rent Expense
1378:
1375:
1372:
1371:
1367:
1364:
1361:
1358:
1355:
1352:
1349:
1346:
1345:
1342:
1334:
1332:
1329:
1326:
1323:
1322:
1318:
1316:
1314:Telecom8 Inc
1313:
1310:
1307:
1306:
1302:
1300:
1297:
1294:
1291:
1290:
1286:
1283:
1280:
1277:
1274:
1273:
1270:
1262:
1260:
1258:
1255:
1253:
1251:
1248:
1245:
1244:
1240:
1238:
1236:
1233:
1231:
1229:
1226:
1223:
1222:
1218:
1216:
1214:
1211:
1209:
1207:
1204:
1201:
1200:
1196:
1194:
1192:
1189:
1187:
1185:
1182:
1179:
1178:
1174:
1171:
1169:Sales Credit
1168:
1165:
1162:
1159:
1156:
1153:
1152:
1149:
1141:
1138:
1135:
1133:
1130:
1127:
1124:
1123:
1119:
1116:
1113:
1111:
1108:
1105:
1102:
1101:
1097:
1094:
1091:
1089:
1086:
1083:
1080:
1079:
1075:
1072:
1069:
1067:
1064:
1061:
1058:
1057:
1053:
1051:Sales Credit
1050:
1047:
1044:
1042:To Whom Sold
1041:
1038:
1035:
1034:
1031:
1028:
1026:
1016:
1013:
1009:
1006:
1005:Cash Journals
1002:
1000:
996:
994:
990:
986:
983:
980:
973:
970:
968:
965:
963:
960:
956:
955:Delivery note
953:
950:
946:
942:
938:
934:
931:
929:
926:
923:
920:
919:
918:
904:
901:
898:
896:
894:
892:
890:who you paid
889:
886:
885:
881:
878:
875:
872:
869:
866:
863:
860:
859:
856:
843:
840:
838:
835:
832:
831:
827:
824:
821:
818:
815:
814:
811:
793:
790:
787:
785:
783:
781:
778:
775:
774:
770:
767:
764:
761:
758:
755:
752:
749:
748:
745:
743:
729:
726:
724:
721:
718:
717:
713:
710:
707:
704:
701:
700:
697:
690:
687:
686:
685:
682:
679:
674:
673:Sales journal
667:Sales journal
664:
655:
653:
649:
645:
641:
637:
633:
629:
615:
610:
608:
603:
601:
596:
595:
593:
592:
584:
581:
579:
576:
574:
571:
569:
568:Error account
566:
564:
561:
559:
556:
555:
548:
547:
539:
536:
534:
531:
529:
526:
524:
521:
520:
513:
512:
504:
501:
499:
496:
494:
491:
490:
483:
482:
474:
471:
469:
466:
464:
461:
459:
456:
454:
451:
450:
446:
441:
440:
432:
431:Trial balance
429:
427:
423:
420:
418:
415:
413:
412:FIFO and LIFO
410:
408:
405:
403:
400:
398:
395:
394:
390:
385:
384:
376:
373:
371:
368:
366:
363:
361:
358:
356:
353:
351:
350:Balance sheet
348:
346:
345:Annual report
343:
342:
338:
333:
332:
324:
321:
319:
316:
314:
311:
309:
306:
304:
301:
299:
296:
295:
291:
286:
285:
277:
274:
272:
269:
267:
264:
262:
259:
257:
254:
252:
249:
247:
243:
240:
238:
235:
233:
230:
228:
225:
224:
217:
216:
208:
205:
203:
200:
198:
195:
193:
190:
188:
185:
183:
182:Going concern
180:
178:
175:
173:
170:
168:
165:
163:
160:
158:
155:
154:
147:
146:
138:
135:
133:
130:
128:
125:
123:
120:
118:
115:
113:
110:
108:
105:
103:
100:
98:
95:
93:
90:
89:
82:
81:
75:
72:
70:
67:
65:
62:
60:
57:
56:
54:
53:
49:
45:
44:
41:
38:
37:
33:
29:
28:
19:
1631:
1618:. Retrieved
1603:
1597:
1585:. Retrieved
1570:
1563:
1551:. Retrieved
1536:
1529:
1517:. Retrieved
1497:
1489:
1477:. Retrieved
1462:
1425:Furniture-X
1368:Cash Credit
1340:
1330:Furniture-X
1278:Invoice No.
1268:
1147:
1029:
1022:
1011:
1010:
1004:
1003:
998:
997:
988:
987:
984:
981:
977:
971:
966:
961:
954:
932:
927:
921:
915:
853:
809:
739:
694:
683:
676:
661:
627:
626:
503:Luca Pacioli
424: /
244: /
242:Depreciation
150:Key concepts
122:Governmental
1183:B. Johnson
1175:Cash Debit
1136:$ 1,000.00
1114:$ 1,000.00
1095:$ 1,880.00
1092:$ 2,000.00
1087:B. Johnson
1070:$ 1,000.00
1045:Post. Ref.
972:Credit note
516:Development
493:Accountants
389:Bookkeeping
308:Convergence
266:Liabilities
197:Materiality
85:Major types
1444:References
1402:BCD Corp.
1356:Post Ref.
1350:Check No.
1298:BCD Corp.
1284:Post Ref.
1160:Post Ref.
1131:D. Garcia
876:creditors
873:purchases
825:invoice #
822:folio #33
756:receipt #
711:invoice #
632:accounting
551:Misconduct
177:Fair value
127:Management
69:Management
40:Accounting
1303:$ 12,000
1227:A. Smith
1205:C. Chang
1139:$ 940.00
1117:$ 940.00
1109:C. Chang
1098:$ 120.00
1073:$ 940.00
1065:A. Smith
1039:Sale No.
949:inventory
867:cheque #
652:purchases
573:Hollywood
453:Financial
355:Cash-flow
112:Financial
1646:Category
1437:$ 1,200
1432:$ 1,200
1414:$ 1,200
1409:$ 1,200
1391:$ 1,200
1384:$ 1,200
1335:$ 2,000
1324:June 21
1241:$ 1,000
1234:$ 1,000
1219:$ 1,000
1212:$ 1,000
1197:$ 1,000
1190:$ 1,000
1142:$ 60.00
1125:April 4
1120:$ 60.00
1103:April 1
1081:April 1
1076:$ 60.00
1059:April 1
939:number,
864:details
819:details
765:debtors
753:details
708:folio #
705:details
558:Creative
528:Research
458:Internal
445:Auditing
261:Goodwill
256:Expenses
107:Forensic
32:a series
30:Part of
1620:6 April
1587:6 April
1553:6 April
1519:6 April
1479:3 April
1419:July 2
1396:July 2
1373:July 1
1308:June 5
1292:June 2
1023:In the
1015:later.
991:money,
958:seller.
937:invoice
933:Invoice
922:Receipt
828:amount
714:amount
523:History
417:Journal
276:Revenue
162:Accrual
1636:
1611:
1578:
1544:
1510:
1506:–120.
1470:
1319:$ 800
1263:$ 400
1256:$ 400
1246:May 8
1224:May 5
1202:May 3
1180:May 1
999:Credit
993:EFTPOS
879:Other
768:Other
762:sales
468:Report
422:Ledger
365:Income
360:Equity
271:Profit
251:Equity
227:Assets
132:Social
97:Budget
1422:1256
1399:1255
1376:1254
1347:Date
1295:6321
1275:Date
1154:Date
1036:Date
882:BANK
861:date
816:date
771:BANK
750:date
702:date
648:sales
463:Firms
92:Audit
1634:ISBN
1622:2012
1609:ISBN
1589:2012
1576:ISBN
1555:2012
1542:ISBN
1521:2012
1508:ISBN
1481:2012
1468:ISBN
1327:412
1311:12D
1128:904
1106:902
1084:901
1062:900
989:Cash
232:Cash
117:Fund
102:Cost
1504:119
945:GST
941:ABN
650:or
137:Tax
74:Tax
1648::
1452:^
740:A
34:on
1624:.
1591:.
1557:.
1523:.
1483:.
613:e
606:t
599:v
20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
