Journal proper refer to the special types of journals which occur occasionally.
These are also known by subsidiary journals.
There are certain types of transactions which are not recorded in other subsidiary books but for the systematic recording.
Systematic recording of all such transactions are made under journal proper by following rules of double entry system of bookkeeping.
Some examples of such transactions are:
Adjustment entries (outstanding, prepaid, accrued, advance income)
No special journal (free sample, loss by fire etc)
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ACCOUNTING EQUATION http://tiny.cc/c89jkz
BASIC JOURNAL ENTRIES IN NEPALI http://tiny.cc/uaakkz
BASIC JOURNAL ENTRIES http://tiny.cc/8aakkz
JOURNAL ENTRY AND LEDGER http://tiny.cc/caakkz
SUBSIDIARY BOOK http://tiny.cc/399jkz
CASH BOOK http://tiny.cc/889jkz
TRIAL BALANCE & ADJUSTED TRIAL BALANCE http://tiny.cc/c59jkz
BANK RECONCILIATION STATEMENT (BRS) http://tiny.cc/q59jkz
FINAL ACCOUNT: CLASS 11 http://tiny.cc/y89jkz
ADJUSTMENT IN FINAL ACCOUNT http://tiny.cc/keakkz
CAPITAL AND REVENUE http://tiny.cc/peakkz
SINGLE ENTRY SYSTEM http://tiny.cc/n19jkz
NON-PROFIT ORGANIZATION (NON-TRADING CONCERN http://tiny.cc/j09jkz
GOVERNMENT ACCOUNTING http://tiny.cc/hcakkz
GOSWARA VOUCHER (JOURNAL VOUCHER) http://tiny.cc/hcakkz
The reasons for using the journal are:
To provide basic or primary accounting record for non-regular transactions,
To keep track of the non-regular transactions,
To reduce the risk of fraud by ensuring that only authorized transactions,
To reduce the risk of errors while posting non-regular transactions,
To record very rare entries etc.
Keep in mind (KIM)
There is disagreement in journal proper. Some scholars adjust following entries:
accrued income, credit purchase, drawings, interest on capital, loss of goods by fire or theft outstanding expenses, provision, reserve, sales of fixed assets
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