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To make Bookkeeping effective, a Journal is mainly divided into two Main Types: A) Special Journal B) General Journal You may also be interested in the “ Difference Between General Journal And Journal Proper ”                                        A) Special Journal In this type of Book, special types of Business Transactions are recorded that occur frequently during the Accounting Period. (i) Types of Special Jour nal Special Journal is sub-divided into following parts: 1) Cash Book / Journal    2) Purchase Book    3) Sales Book     4) Purchase Return Book    5) Sales Return Book A nd   6)   Petty Cash Book 1) Cash Book All Cash Transactions are recorded here. Whether Cash received or paid is recorded in this book. 2) Purchase Book Here we record ...

Here we will study about the difference between General Journal And General Ledger . Previously we studied the Difference Between General Journal and Proper Journal . A General Journal is simply a Journal in which those Business Transactions are recorded which takes place at a large number. So, a separate book is maintained to record such types of business transactions. For Example A Cash Book is maintained to record Cash Transactions. Cash Receipts and Cash Payments are recorded. Since, these business transactions occur constantly and on regular basis. Similarly, Sales And Purchase Journal are maintained by the business to recorded sales and Purchase Transactions. All these Transactions that are recorded in General Journal are posted to General Ledger. So, it is such a ledger in which all those business transaction that are recorded in General Journal are finally recorded in it. For Example, Cash Book or Journal in which all cash t...

Here we study about the difference between General Journal And Journal Proper . Also we study the Difference Between General Journal And Special Journal. We already discussed about Journal in our previous article. Note: General Journal is also called Journal Proper , Modern, Principal or simply a  Journal . But most famous name is General Journal, especially in these days. So, there is  no differe nce betwee n Ge neral Jour nal  A nd Jour nal Proper. So, Let's us Study About Ge neral Jour nal VS Special Jour nal . Special Journal is designed to record specific types of transactions on routine daily basis. Since the se types of Business Transactions occur on daily basis so it is better to record these types of transactions separately on a Special Journal or Book in order to present true and fair view of the accounting records. Example are  Cash Book , Sales Book and Purchase Book . General Journal ...

Here we study about Current Assets Definition And Then its Examples. Previously, we study about Current Liabilities and its Examples . Current Assets And Current Liabilities are recorded in the Balance Sheet . Current Assets having life equal to one year or less. They are utilized during the Operating Cycle of the Business or within the Current Accounting Period. Examples are Cash, Accounts Receivable, Inventory, Accrued Revenue, etc. Types Of Curre nt Assets  / Examples of Current Assets 1. Cash/ Bank Cash or Bank is our Current Asset. When the Company has cash in hand it is called Cash in Hand or simply Cash and when it is deposited into company’s account at Bank, then it is called Cash at Bank or simply Bank. Cash is used within the operating cycle of the business because an entrepreneur has to use Cash to meet daily expenses of the business to run the business smoothly and also it is used to improve the Working Capital of the busin...