Table of contents :
Sales Special Journal
Cash Receipts
Cash Purchases
Miscellaneous Diary
1). Sales diary
2). Sales credit diary
3). Purchase diary
4). Purchase credit diary
5). Cash diary
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Sales Special Journal
Is a special journal that is used to record all sales transactions of goods that are also on credit.
So that all sales of goods on credit will be recorded in the sales journal. In the sale of merchandise transactions on credit results in an increase in accounts receivable and an increase in sales.
Special Journals for Sales, Cash Receipts, Giving, Expenditures and Miscellaneous Diary
Things to note in the sales journal:
- Record the date of the transaction
- Write down the name of the debtor / other information
- Give a check mark (v) which indicates that the transactions in the journal have been transferred to the subsidiary ledger
- Record payment terms
- Record the amount of transactions as sales and accounts receivable
Cash Receipts
can be said as a journal that functions to record financial transactions that occur and can increase the company’s cash balance, such as cash sales transactions, accounts receivable settlement transactions and other income transactions.
Those that are included in the sundries column as well as the return transaction of goods that have been purchased due to non-compliance (damage) in cash (purchase returns). Then it will be recorded in the following cash receipts journal below for example
1). When a cash sale transaction of merchandise occurs, it will automatically increase the cash balance in (debit) and increase the sales balance (credit).
2). When a receivable settlement transaction occurs, it will have an effect on an increase in the cash balance in (debit) and a reduction in the balance of accounts receivable on (credit). If there is a sales discount, it is recorded by debiting the cash account and the sales discount.
Also Read: Understanding Trial Balance
3). When there is a return of merchandise that has been purchased in cash, there is an increase in cash and a reduction in the merchandise that has been purchased because of the return of goods (returns). Records are made of debiting the cash account and crediting the purchase return account for the goods returned.
Cash Purchases
Is a journal specifically used by trading companies in recording all kinds of transactions for the purchase of merchandise or other goods on credit, while purchases of goods in cash are recorded in a special journal for cash disbursements.
When there is a purchase transaction of merchandise on credit, it will be recorded in a purchase debit account and credit is recorded as a trade payable account.
However, if these transactions occur repeatedly, it will be more practical if a special column for Purchases and Accounts Payable is provided in the recording.
The transactions that can be recorded in the cash disbursement journal are:
1). Purchase in cash
2). Purchase of other items, for example, such as equipment, tools, etc.
3). Payment of expenses
4). Payment of accounts payable
5). Withdrawing money for personal needs (prive)
Miscellaneous Diary
A diary is a medium used to record cooperative transactions in a concise, permanent and complete manner and is arranged chronologically for future reference.
In the context of bookkeeping, a diary is a record of financial transactions with two characteristics, namely descriptive (orderly events) and chronological (orderly-time). Below are some kinds of diaries
1). Sales diary
This diary is used to record all sales invoices.
2). Sales credit diary
A sales credit diary is used to record all sales credit notes.
3). Purchase diary
Purchase diary is used to record all purchase invoices.
Also Read: Definition of Receipt
4). Purchase credit diary
in the Purchase credit diary is used to record all purchase credit notes.
5). Cash diary
commonly known as a cash book which is used to record all funds received or disbursed. Cash diaries are divided into two types, namely a diary of receipts for money received and a diary of expenses for money or funds spent.
