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SPECIAL JOURNALS

Special journals are books of original entry. maintained for each of these major transactions such as: 1. sales of services and/or goods 2. purchases of goods or services 3. receipt of cash 4. payment of cash advantageous because it is time saving; division of labor is possible; and errors are minimi ed !our kinds of special journals: 1. Sales journal " is used to record all sales of merchandise on account. 2. Cash receipts journal " is used to record all transactions involving the receipt of cash. 3. Purchases journal # is used to record purchase of merchandise on account 4. Cash disbursements (payments) journal # is used to record all transactions involving cash payment. $%&': (se )eneral *ournal for those transactions that cannot be recorded in four special journals. Subsidiary Ledger - is a ledger that provides supporting details for a specific account in the general ledger. - common type: a. accounts receivable subsidiary ledger b. accounts payable subsidiary ledger Sales Journal (SJ)
+ate ,ustomer -nvoice $o. &erms ./ 0ccounts /eceivable 1+/2 3ales 1,/2

&he follo4ing are the steps for posting from the sales journal to the general ledger and individual customer5s accounts in the accounts receivable subsidiary ledger: 3tep 1 " &he individual sales are posted to the accounts receivable subsidiary ledger 3tep 2 " 0 check mark is placed in the post reference 1./2 column of the sales journal to indicate that posting to the subsidiary ledger is complete. -n the ./ column of the subsidiary ledger6 the journal page should be indicated. 3tep 3 " 0t the end of each month6 the 0ccounts /eceivable 1+/26 3ales 1,/2 column is totaled and its total is posted to the general ledger as a debit to 0ccounts /eceivable and as a credit to 3ales.

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3tep 4 " &he 0ccounts /eceivable and 3ales account numbers are entered belo4 the total of the 0ccounts /eceivable 1+/2; 3ales 1,/2 column in the 3* to indicate that posting to the general ledger is complete. 3tep 7 " -n the ./ column of the general ledger6 the journal name and its page is entered to indicate the source of the posted amount. Purc ases Journal (PJ)
+ate 3upplier -nvoice $o. &erms ./ .urchases 1+/2 0ccounts .ayable 1,/2

&he follo4ing are the steps for posting from the purchases journal to the general ledger and individual supplier5s accounts in the accounts payable subsidiary ledger: 3tep 1 " &he individual purchases are posted to the 0. subsidiary ledger. 3tep 2 " 0 check mark is placed in the ./ column of the .* to indicate that posting to the subsidiary ledger is complete. -n the ./ column of the subsidiary ledger6 the journal page should be indicated. 3tep 3 " 0t the end of each month6 the .urchases 1+/26 0ccounts .ayable 1,/2 column is totaled and its total is posted to the general ledger as a debit to .urchases and as a credit to 0ccounts .ayable. 3tep 4 " &he .urchases and 0ccounts .ayable account numbers are entered belo4 the total of the .urchases 1+/2 and 0ccounts .ayable 1,/2 column in the .* to indicate that posting to the general ledger is complete. 3tep 7 " -n the ./ column of the general ledger6 the journal name and its page is entered to indicate the source of the posted amount. Cas Receip!s Journal (CRJ)
+'8-& +ate /eceived 3ales from ,ash +iscount ,/'+-& 0ccounts 3ales ./ /eceivable 3 ( $ + / 9 %ther 0ccounts ./ +ebit ,redit

&he follo4ing are the steps for posting from the cash receipts journal to the general ledger and individual customer5s accounts in the accounts receivable subsidiary ledger: 3tep 1 " &he individual accounts appearing in the %ther 0ccounts column may be posted at the end of the month or more fre:uently to the respective accounts in the general ledger. &he individual amounts appearing in the 0/ column are posted daily to the respective customer5s accounts in the 0/ subsidiary ledger. 3tep 2 " .lace a check mark in the ./ column of the ,.* to indicate that posting to the subsidiary ledger is complete. .lace the journal name and page number in the respective customer5s accounts in the subsidiary ledger. HESalendrez
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3tep 3 " -ndicate the account number of the general ledger accounts in the ./ column of the 3undry section to indicate that posting of the individual accounts is complete. -ndicate the journal name and page number in the respective account in the general ledger. 3tep 4 " 0t the end of the period6 usually monthly6 total the amount columns and check the e:uality of total debits to total credits and double rule the totals. 3tep 7 " .ost the totals of each special column to the proper accounts in the general ledger and enter the account number belo4 the column totals to indicate that posting is complete. &he total of the %ther 0ccounts column should not be posted as each amount has already been individually posted. 3imply put a check mark belo4 the total. 3tep ; " -n the reference column of the general ledger6 place the journal name and page number indicating the source of the data. Cas Pay"en!s Journal (CPJ)
+ate .ayee ,heck $o.

+'8-&
.urchases ./ 0ccounts .ayable

,/'+-&
,ash .urchase +iscount

3 ( $ + / 9
%ther 0ccounts ./ +/ ,/

&he follo4ing are the steps for posting from the cash receipts journal to the general ledger and individual customer5s accounts in the accounts receivable subsidiary ledger: 3tep 1 " &he individual accounts appearing in the %ther 0ccounts column may be posted at the end of the month or more fre:uently to the respective accounts in the general ledger. &he individual amounts appearing in the 0. column are posted daily to the respective supplier5s accounts in the 0/ subsidiary ledger. 3tep 2 " .lace a check mark in the ./ column of the ,.* to indicate that posting to the subsidiary ledger is complete. .lace the journal name and page number in the respective supplier5s accounts in the subsidiary ledger. 3tep 3 " -ndicate the account number of the general ledger accounts in the ./ column of the 3undry section to indicate that posting of the individual accounts is complete. -ndicate the journal name and page number in the respective account in the general ledger. 3tep 4 " 0t the end of the period6 usually monthly6 total the amount columns and check the e:uality of total debits to total credits and double rule the totals. 3tep 7 " .ost the totals of each special column to the proper accounts in the general ledger and enter the account number belo4 the column totals to indicate that posting is complete. &he total of the %ther 0ccounts column should not be posted as each amount has already been individually posted. 3imply put a check mark belo4 the total. 3tep ; " -n the reference column of the general ledger6 place the journal name and page number indicating the source of the data.

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