Subsidiary Books

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SWAPNIL MEERA SHARMA

SWAPNIL MEERA SHARMA (Querist)
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06 August 2010 Sir/Madam,

What are subsidiary books....???
Plz elaborate.

Thanks.

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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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.

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SWAPNIL MEERA SHARMA

SWAPNIL MEERA SHARMA (Querist)
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06 August 2010 Thanks sir. It helped me.

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