The various classifications of non cash transaction

Transactions are the most important part of accounting. However, the transactions can be done in two different ways as a cash transaction and non cash transaction. Here, the reader will get the proper classification of non cash transaction.  There are two parts of non cash transactions and these are –

1. Subsidiary Books – In this section the entries are done in a proper way, and each one is different than another one. This is also known as a special journal as each type of entry is provided to a particular section of journal. These are –

• Purchases book or purchases journal
• Sales book or sales journal
• Purchases return book or purchases return journal
• Sales return book or sales return journal

1. Journal Proper – This is only a single type of journal in which the person can enter any type of non cash transaction. This is also known as all purpose journal. Only a single person can enter or retrieve data records through this type of non cash transaction.