Financial Accounting Six: Special Journals And Subsidiary Ledgers

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This course is designed for those interested to learn the basics of special journals and subsidiary ledgers in accounting, be able to explain why they are important, including accounts receivable and accounts payable subsidiary ledgers, sales journals, purchases journals, cash receipts, and cash payment journals.

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About This CourseBeginner

We should have a good understanding of debits and credits before this course and we have courses covering debits and credits. We can construct an accounting system where we record every financial transaction using debits and credits in a general journal, posting each journal entry to the general ledger, making the trial balance form the general ledger, and the financial statements from the trial balance. 

Special journals are typically used in a manual system but understanding them helps any system because it helps to see what components of an accounting system are necessary to all accounting systems, which components can be changed, and when changing the format of the system would be beneficial. Automated systems also often general useful reports in a similar format as the special journals. 

Subsidiary ledgers for accounts receivable and accounts payable are necessary for any system where we make sales on account and purchases on account. In other words, if we make sales and collect money at a later date, we will need to track who owes us money, and if we make purchases and pay at a later date, we will need to track who we owe money to. 

Who this course is for:

  • Accounting students
  • Business owner
  • Anyone who wants to learn accounting

Our Promise to You

By the end of this course, you will have learned special journals and subsidiary ledgers.

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Get started today and learn more about financial accounting on special journals and subsidiary ledgers.

Course Curriculum

Course Sections

Special Journals Subsidiary Ledgers

Accounts Receivable Subsidiary Ledger Overview

Accounts Receivable Subsidiary Ledger Explained

Accounts Receivable Subsidiary Ledger – Part 1

Accounts Receivable Subsidiary Ledger – Part 2

Multiple Choice Question 2 – Special Journals

Accounts Payable Subsidiary Ledger Overview

Accounts Payable Subsidiary Ledger

Accounts Payable Subsidiary Ledger – Part 1

Accounts Payable Subsidiary Ledger – Part 2

Multiple Choice Question 3 – Special Journals

Sales Journal

Sales Journal Service Company

Worksheet – Sales Journal

Sales Journal Merchandising Company

Worksheet – Sales Journal Inventory

Multiple Choice Question 4 – Special Journals

Purchases Journal Overview

Purchases Journal Service Company

Worksheet Purchases Journal

Purchase Journal Merchandising Company

Worksheet – Purchases Journal Inventory

Multiple Choice Question 5 – Special Journals

Cash Receipts Journal Overview

Cash Receipts Journal

Worksheet – Cash Receipts Journal

Multiple Choice Question 6 – Special Journals

Multiple Choice Question 1 – Special Journals

Cash Payments Journal Overview

Cash Payments Journal Service Company

Worksheet Cash Payment Journal

Multiple Choice Question 8 – Special Journals

Multiple Choice Question 7 – Special Journals

CPA Exam Part 1

Comprehensive Problem Overview

Comprehensive Problem Special Journals Part 1

Comprehensive Problem Special Journals Part 2

Comprehensive Problem Special Journals Part 3

Comprehensive Problem Special Journals Part 4

Comprehensive Problem Special Journals Part 5 – Adjusting Entries

Comprehensive Problem Special Journals Part 6 – Financial Statements

Comprehensive Problem Special Journals Part 7 – Closing Process

Accounts Payable Ledger

Accounts Receivable Ledger

Cash Disbursements Journal

Check Register

Compatibility Principle

Controlling Account

Cost Benefit Principle

General Ledger

Purchase Requisition

Sales Journal

Subsidiary Ledger

Discussion Question 1

Discussion Question 2

Discussion Question 3

Discussion Question 4

Discussion Question 5

Discussion Question 6

Downloadable Materials

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