Journal and Ledger


  • A book where transactions are recorded from the source document in a chronological order is known as Journal.
  • Some of the features of journal are that transactions are recorded first time, each day’s transactions are reco .... Read More


  • A Journal is a book where transactions are recorded from source document in a chronological order.
  • It provides a date wise record of all the transactions with details of accounts debited and credited, along with the amounts of .... Read More

Accounting for GST

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Cash Book

  • Books of Original Entry are also known as Books of Prime Entry or Special Purpose Subsidiary Books.
  • All cash receipts, cash payments and transactions through bank are recorded in the cash book. .... Read More

Petty cash book

  • When the business grows and the number of transactions increases, it becomes difficult to record all these transactions in a single book.
  • To make the task easier, these small and recurring expenses are recorded in a separate cash book called ‘Pett .... Read More

Special Purpose Subsidiary Books

  • Purchase Book is used for recording credit purchases of goods.
  • Posting to the party's account is done daily in this book with individual amounts on the credit side of their accounts.
  • Advantages of purchase book are that it is con .... Read More

Journal proper

  • Journal Proper is a residuary book after the sub-division of Journal and records only those transactions that cannot be recorded in any other subsidiary book.
  • Transactions recorded in journal are opening entry, closing entry, a .... Read More


  • The book that contains a classified and permanent record of all the transactions of a business is called the Ledger.
  • Features of ledger are: it is a principal book of accounts, classified under appropriate heads called accounts, contains condensed and summarise .... Read More

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