In this presentation we will take a look at the purchases journal for a merchandising company. Purchases journal will be used when we make purchases for a type of system that will typically more be more of a manual system as opposed to an automated system. However, it is useful to know this in order to have an automated system because the automated system will generate reports that will be similar to a purchase journal and because it’s good to know how different system works to know what are similar what’s different, so that we better understand whatever system we are using. The purchases journal may better be described as the purchase journal on account. So that’s going to be the major point meaning if we make purchases for something that in cash if we spent cash to make the purchase then it will not go in the purchases journal even though we made a purchase because it will go into cash payments journal. So this is really kind of a short name. The accounts payable journal might be a better name for it or the purchases journal on account, but purchases journal is typically the term that will be used.
Posts with the automated system tag
Sales Journal Merchandising Co.
In this presentation, we will take a look at a sales journal for a merchandising company. When recording transactions related to a sales journal, we will be recording transactions for sales into the sales journal those been journal entries that are typically used when we have a system done by hand rather than an automated system. So a sales journal will be used. Typically when we’re having more of a manual system. It is good to know this for a automated system as well. Because the automated system one might want to run reports that are similar to the sales journal and to it’s good to know different types of formats for the accounting process to know what’s the same and what is different. So that that will better help us to understand any type of system we are using.
Sales Journal Service Company 10
In this presentation, we will take a look at the sales journal for a service company. We’ll use the sales journal in a manual system or a system we do by hand. When we make sales. However, it’s a little bit more complicated than that because if sales journal really means sales that we make on account, meaning we’re not receiving cash at the point in time we make the sale. If we do receive cash at the point in time we make sale even though we have sales being recorded or revenue accounts being recorded. It should be going into the cash receipts journal, because that’s the journal we use whenever we get cash. So the better term for this journal may be something like accounts receivable, or more specifically, sales made on accounts or sales and accounts receivable, but it’s typically called the sales journal. So don’t let that confuse you.
Special Journals Subsidiary Ledgers 2
In this presentation, we’re going to talk about special journals and subsidiary ledgers. First, we’re going to list out the special journals and talk about when we would use them, why we would use them and how they fit into the accounting system. The special journals are basically going to group types of transactions. So when we think about all the transactions that happened during the month, we typically see them in order of when they happen in the accounting system, we’re going to record transactions in other words, by date as they occur. But if we are able to group those transactions into special journals that can simplify the process.