Subsidiary Books
This query is : Resolved
06 August 2010
Sir/Madam,
What are subsidiary books....???
Plz elaborate.
Thanks.
What are subsidiary books....???
Plz elaborate.
Thanks.
06 August 2010
Previously all the transactions were entered into Journal in the form of journal entries.
This was suitable till the business volume was in limited.
When business grew; it was felt that it is not suitable to write again and again -
Purchases A/c Dr.
To Party A/c
So it was thought; better put all these entries into one Book : Purchase Book and it would be deemed that Purchases is always Debited and Parties' Account is credited and accordingly Ledger Entries would be made.
Similarly; the Sales Book, Sales Return Book, Purchase Return Book, Bills Receivable Book, Bills Payable Bill and rest entries were made into Journal (popularly known as Journal Proper).
All these are subsidiary books.
This was suitable till the business volume was in limited.
When business grew; it was felt that it is not suitable to write again and again -
Purchases A/c Dr.
To Party A/c
So it was thought; better put all these entries into one Book : Purchase Book and it would be deemed that Purchases is always Debited and Parties' Account is credited and accordingly Ledger Entries would be made.
Similarly; the Sales Book, Sales Return Book, Purchase Return Book, Bills Receivable Book, Bills Payable Bill and rest entries were made into Journal (popularly known as Journal Proper).
All these are subsidiary books.
Message likes :
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06 August 2010
Thanks sir. It helped me.
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