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A purchase journal is an accounting journal and it is also a prime entry book/daybook/main entry book which is used in an accounting system to keep track of the orders of items placed using accounts payable .
A purchase returns journal (also known as returns outwards journal/purchase debits daybook) is a prime entry book or a daybook which is used to record purchase returns.In other words, it is the journal which is used to record the goods which are returned to the suppliers.
Special journals (in the field of accounting) are specialized lists of financial transaction records which accountants call journal entries.In contrast to a general journal, each special journal records transactions of a specific type, such as sales or purchases.
Bookkeeping first involves recording the details of all of these source documents into multi-column journals (also known as books of first entry or daybooks). For example, all credit sales are recorded in the sales journal; all cash payments are recorded in the cash payments journal. Each column in a journal normally corresponds to an account.
In accounting, purchases is the amount of goods a company bought throughout this year. It also refers to information as to the kind, quality, quantity, and cost of goods bought that should be maintained. They are added to inventory. Purchases are offset by purchase discounts and Purchase Returns and Allowances.
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Purchase returns journal; R. Reclassification (accounting) S. Sales journal; Special journals; Subledger This page was last edited on 2 September 2016, at 03:48 ...