Question

What are the different journals used in accounting and why use different journals?

Answer 1

A journal is an account that records the financial transactions of a business management that it uses to secure the future and to incorporate some other accounting information, such as general accounting. This journal is commonly used in a double-access system. The following are some types of journals.

१. A cash receipt journal is called an accounting booklet and is known as the entry book that is used in accounting for transactions when a transaction is received in cash.

२. Cash Payments Journal - A cash payment journal is a type of journal in which all cash transactions are allowed to be recorded. So, complete transaction in the situation where you spend it. For example, if you pay cash to an accountant, it will be recorded in a cash payment journal.

३. Sales Journal - It contains an accounting journal and is an entry book used in accounting to keep track of the transactions that customers have purchased in the account with the money available on the deposit side.

4. Sales Return Journal - Sales return journal can be referred to as sales return in respect of payroll entry. This involves depositing into the customer's account when it is used for return or when the goods sold are returned.

5. Purchase Journal - These journals are used to record specific purchase date, seller account, payment balance and other account balance information. All these documents are included in the slow voucher system.

6. Purchase Return Journal - The Purchase Return Journal is the primary format entry book in which the purchased return is recorded. In other words, in these journals, suppliers are kept track of the return merchandise. The document is used as information in the future to keep a complete record of the purchase return transaction.

7. General Journal - In the General Journal receipts in cash form The other transactions recorded in this journal, cash payments, shopping journals are recorded in the appropriate or general journal.