Get the free EAccounting with Special Journals - McGraw-Hill Education

WiL79573 Apple E1-E42 4/6/08 9:27AM Page E-1 NTT Os9:Desktop Folder:Wild:wiL2appe: Appendix A Look at This Appendix emphasizes accounting information systems. We describe fundamental system principles,

How to fill out eaccounting with special journals

How to fill out eaccounting with special journals:

1. Determine the types of transactions that need to be recorded in the special journals. These could include sales, purchases, cash receipts, and cash disbursements.
2. Create separate journals for each type of transaction. For example, you may have a sales journal, a purchases journal, a cash receipts journal, and a cash disbursements journal.
3. Label each journal with the appropriate headings, such as date, transaction description, customer/vendor name, and amount.
4. Record each transaction in the appropriate journal. Be sure to include all the necessary details, such as the date of the transaction, a description of the transaction, and the amount.
5. Summarize the transactions recorded in each special journal at the end of the accounting period. This will allow you to easily transfer the information to the general ledger.
6. Transfer the summarized totals from each special journal to the general ledger. This will ensure that the transactions are properly recorded in the overall accounting system.
7. Reconcile the totals in the special journals with the corresponding accounts in the general ledger. This will help you identify any errors or discrepancies that need to be corrected.

Who needs eaccounting with special journals:

1. Small businesses that have a high volume of transactions. Special journals can help streamline the recording process and make it more efficient.
2. Businesses that want to improve their financial reporting accuracy. Using special journals can help ensure that all transactions are properly recorded and categorized.
3. Companies that want to track and analyze specific types of transactions separately. Special journals allow for easy identification and analysis of sales, purchases, cash receipts, and cash disbursements.

For pdfFiller’s FAQs

What is eaccounting with special journals?

Eaccounting with special journals is a method of accounting that involves using specialized journals to record specific types of transactions.

Who is required to file eaccounting with special journals?

Businesses that choose to use eaccounting with special journals are required to file this method of accounting.

How to fill out eaccounting with special journals?

To fill out eaccounting with special journals, transactions are recorded in specialized journals such as the sales journal or purchases journal.

What is the purpose of eaccounting with special journals?

The purpose of eaccounting with special journals is to streamline and organize the recording of transactions by grouping similar types of transactions together.

What information must be reported on eaccounting with special journals?

Information such as sales, purchases, and other specific types of transactions must be reported on eaccounting with special journals.

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