Professional Documents
Culture Documents
6
Subsidiary Ledgers
Special Journals
Special Journals
General journals can be
inefficient where there are
many transactions
Group similar transactions
together and record them in a
special purpose journal
credit sales
sales journal
credit purchases
journal
purchases
SALES JOURNAL
Records only credit sales of
inventory
Total posted to general ledger
monthly
Detail by debtor posted to subsidiary
ledger daily
Advantages
Each transaction recorded on a single
line
Entries do not require a narration
SALES JOURNAL
Sales Journal
Account
t
Ref
Sales
GST
Collection
s
Accounts
Receivabl
e
Jan
2
401
R. Abbot
1 100
110
1 210
402
D. Ball
900
90
990
403
N. Camp
820
82
902
404
R. Abbot
1 410
141
1 551
19
405
A. Evans
920
92
1 012
21
406
J. Ford
850
85
935
26
407
A. Evans
1 550
155
1 705
29
408
N. Camp
750
75
825
8 300
830
9 4130
PURCHASES JOURNAL
Records only credit purchases
Can be used for items other than
inventory
Total posted to general ledger monthly
Detail by creditor posted to subsidiary
ledger daily
Advantages
as for sales journal
5
PURCHASES JOURNAL
Purchases Journal
Date Date
Recor Invoic
d
e
Jan 3
Account
Terms
Account
Post Purchas
GST
s
Ref
es
Outlays Payable
n/30
1 900
190
2 090
4 Risk Ltd
n/30
1 200
120
1 320
8 Dunn
Supply
n/30
1 410
141
1 551
13
12 Dunn
Supply
n/30
1 820
182
2 002
20
18 CSR Ltd
2/10
n/30
820
82
902
24
24 Cooper
Posted
Ltdat end
2/10
ofn/30
month
900
90
990
2 810
27
26 Risk Ltd
2/10
281
3 091
CASH RECEIPTS
JOURNAL
Records all receipts of cash including
cheques
Records each receipt and total banked
Totals posted to general ledger monthly
Detail (debtors only) posted to
subsidiary ledger daily
Columns set up for common receipts
CASH RECEIPTS
JOURNAL
Cash Receipts Journal
Date
Account
Jan 3 Capital
Post
Ref
300
8 Sales
Cash at
Bank
Discount
Allowed
Sales
10 000
280
10 R. Abbot
1 078
20 D. Ball
900
900
220
220
31 Bank Loan
205
Other
Account
s
10 000
280
20 Sales
Account
s
Receiva
ble
22
1 100
2500
14978
22
1 400
1 100
NB: GST has been excluded from example to save space
(100)
(511)
(400)
(104)
2 500
12 500
8
(x)
CASH PAYMENTS
JOURNAL
Records all payments of cash
Records each payment and cheque
number
Totals posted to general ledger monthly
Detail (creditors only) posted to
subsidiary ledger daily
Columns set up for common payments
Account
Post
Ref
Other
Account
s
Account
s
Payable
4 Purchases
7 Rent Exp
14 Store
Equip
Purchas
es
680
Cash at
Bank
680
516
320
320
170
410
410
28 Purchases
840
510
Discount
Receive
d
840
510
30 Kirby Ltd
1 900
1 900
30 Cooper Ltd
900
882
18
1 240
2 800
1 520
5 542
18
10
B: Cheque number and GST have been excluded from example to save
sp
(x)
(210)
(510)
(100)
(401)
Subsidiary Ledgers
Control Accounts and
Subsidiary Ledgers
Summary information
Control account (in the general ledger)
Detailed information
Subsidiary ledger - often used for
Accounts receivable
Accounts payable
Inventory
Fixed assets
General Ledger
Accounts Receivable Control
Date
Debit
Nov 1
Credit
Balanc
e
Subsidiary Ledger
P. Able
Date
6 500
Nov 1
11 600
Nov 8
Nov 30
6 900 4 700
Schedule of Accounts
Receivable
As at 30 November
Nov 16
Nov 30
P. Able
5 100
$1 800
R. Baker
2 400
D. Cane
500
$4 700
Date
Debit
Credit
3 200
1 800
5 000
3 200
R. Baker
Debit
Credit
Nov 1
Date
1 100
2 400
D. Cane
Debit
Nov 1
Nov 12
1 800
Balanc
e
1 100
Nov 3
Nov 20
Balanc
e
Credit
0
2 400
Balanc
e
2 200
900
3 14
100
16
Purchases Journal
Date
Inv
No.
Account
Term
s
2/3
408 Dye Ltd
42
462
6/3
606 R Rider
60
660
19/3 1614 D Donnelly
51
561
Post
Ref.
Purchas
es
GST
Outlays
Accounts
Payable
2/10
420
n/30
2/10
600
n/30
2/10
510
n/30
1 530
153
1 683
17
(500)
Sales Journal
Date Inv.
No.
Account
11/3
Sales
GST
Coll
R. Jetty
1 140
114
1254
990
99
1089
23/3 230
Dynamics
Ltd
Dockey Ltd
780
78
858
28/3 231
G. Peck
600
60
660
$3 510
351
3861
(400) (221)
(104)
228
14/3 229
Terms
Post
Ref.
Accounts
Rec
18
Date
6/3
Date
19/3
Post Ref
PJ
Post Ref
PJ
Dye Ltd
Debit
Credit
Balance
462
462
R. Rider
Debit
Credit
Balance
660
660
D Donnelly
Post Ref Debit
Credit
Balance
PJ
561
561
19
Purchases Journal
Date
Inv.
No
Account
Terms
2/3
6/3
19/3
408
606
1614
Dye Ltd
R Rider
D Donnelly
2/10,n/30
2/10,n/30
2/10,n30
420
600
510
$1 530
(500)
42
60
51
153
(121)
462
660
561
1683
(201)
20
Accounts Receivable
Subsidiary ledger
Date
11/3
Date
14/3
Date
23/3
R. Jetty
Post Ref Debit
Credit
SJ
1254
Balance
1254
Dynamics Ltd
Post Ref Debit
Credit
Balance
SJ
1089
1089
Post Ref
SJ
Dockey Ltd
Debit
Credit
858
Balance
858
21
Accounts Receivable
Subsidiary ledger
G Peck
Date
28/3
660
22
Sales Journal
Date Inv.
No.
Account
11/3
R. Jetty
1 140
114
1254
990
99
1089
23/3 230
Dynamics
Ltd
Dockey Ltd
780
78
858
28/3 231
G. Peck
600
60
660
$3 510
351
3861
(400) (221)
(104)
228
14/3 229
Terms
Post
Ref.
Sales
GST
Coll
Accounts
Rec
23
24
AN INTRODUCTION TO
MYOB
25
26
6. Receipt of
payment from
customers account
7. Withdrawal of
cash by owner
8. Receipt of credit
note from supplier
for defective
goods
27