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SPECIAL JOURNALS
Special journalsare
books of original entry.
maintained for each of these major transactions such as:
1. sales of services and/or goods2. purchases of goods or
services3. receipt of cash4. payment of cash
advantageous because it is time saving; division of labor is
possible; and errors are
minimied
!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 account4. 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 specialjournals.
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 +
ales ,
&he folloing are the steps for posting from the sales
journal to the general ledger andindividual customer5s accounts in
the accounts receivable subsidiary ledger:
tep 1 " &he individual sales are posted to the accounts
receivable subsidiary ledger
tep 2 " 0 check mark is placed in the post reference column of
the sales journal toindicate that posting to the subsidiary ledger
is complete. -n the column of thesubsidiary ledger6 the journal
page should be indicated.
tep 3 " 0t the end of each month6 the 0ccounts eceivable +6 ales
, column istotaled and its total is posted to the general ledger as
a debit to 0ccountseceivable and as a credit to ales.
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tep 4 " &he 0ccounts eceivable and ales account numbers are
entered belo thetotal of the 0ccounts eceivable +; ales , column in
the * to indicatethat posting to the general ledger is
complete.
tep 7 " -n the column of the general ledger6 the journal name
and its page is enteredto indicate the source of the posted
amount.
Purcases Journal (PJ)
+ate upplier -nvoice $o. &erms urchases +
0ccounts ayable ,
&he folloing are the steps for posting from the purchases
journal to the general ledgerand individual supplier5s accounts in
the accounts payable subsidiary ledger:
tep 1 " &he individual purchases are posted to the 0
subsidiary ledger.
tep 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 thejournal page should be indicated.
tep 3 " 0t the end of each month6 the urchases +6 0ccounts
ayable , columnis totaled and its total is posted to the general
ledger as a debit to urchases andas a credit to 0ccounts
ayable.
tep 4 " &he urchases and 0ccounts ayable account numbers are
entered belo thetotal of the urchases + and 0ccounts ayable ,
column in the * toindicate that posting to the general ledger is
complete.
tep 7 " -n the column of the general ledger6 the journal name
and its page is enteredto indicate the source of the posted
amount.
Cas Receip!s Journal (CRJ)
+ate eceivedfrom
+ ' 8 - & , ' + - & ( $ + 9
,ashales
+iscount ales 0ccountseceivable %ther
0ccounts +ebit ,redit
&he folloing are the steps for posting from the cash
receipts journal to the general ledgerand individual customer5s
accounts in the accounts receivable subsidiary ledger:
tep 1 " &he individual accounts appearing in the %ther
0ccounts column may be postedat the end of the month or more
freuently to the respective accounts in thegeneral ledger. &he
individual amounts appearing in the 0 column are posteddaily to the
respective customer5s accounts in the 0 subsidiary ledger.
tep 2 " lace a check mark in the column of the ,* to indicate
that posting to thesubsidiary ledger is complete. lace the journal
name and page number in therespective customer5s accounts in the
subsidiary ledger.
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tep 3 " -ndicate the account number of the general ledger
accounts in the column ofthe undry section to indicate that posting
of the individual accounts is complete.-ndicate the journal name
and page number in the respective account in thegeneral ledger.
tep 4 " 0t the end of the period6 usually monthly6 total the
amount columns and checkthe euality of total debits to total
credits and double rule the totals.
tep 7 " ost the totals of each special column to the proper
accounts in the generalledger and enter the account number belo the
column totals to indicate thatposting is complete. &he total of
the %ther 0ccounts column should not be postedas each amount has
already been individually posted. imply put a check markbelo the
total.
tep " -n the reference column of the general ledger6 place the
journal name and pagenumber indicating the source of the data.
Cas Pay"en!s Journal (CPJ)
+ate ayee ,heck$o.
+ ' 8 - & , ' + - & ( $ + 9
urchases 0ccountsayable ,ash
urchase+iscount
%ther0ccounts + ,
&he folloing are the steps for posting from the cash
receipts journal to the general ledgerand individual customer5s
accounts in the accounts receivable subsidiary ledger:
tep 1 " &he individual accounts appearing in the %ther
0ccounts column may be postedat the end of the month or more
freuently to the respective accounts in thegeneral ledger. &he
individual amounts appearing in the 0 column are posteddaily to the
respective supplier5s accounts in the 0 subsidiary ledger.
tep 2 " lace a check mark in the column of the ,* to indicate
that posting to thesubsidiary ledger is complete. lace the journal
name and page number in therespective supplier5s accounts in the
subsidiary ledger.
tep 3 " -ndicate the account number of the general ledger
accounts in the column ofthe undry section to indicate that posting
of the individual accounts is complete.-ndicate the journal name
and page number in the respective account in thegeneral ledger.
tep 4 " 0t the end of the period6 usually monthly6 total the
amount columns and checkthe euality of total debits to total
credits and double rule the totals.
tep 7 " ost the totals of each special column to the proper
accounts in the general
ledger and enter the account number belo the column totals to
indicate thatposting is complete. &he total of the %ther
0ccounts column should not be postedas each amount has already been
individually posted. imply put a check markbelo the total.
tep " -n the reference column of the general ledger6 place the
journal name and pagenumber indicating the source of the data.
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