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.

Link of Previous Main Topic:-

• Book keeping
• Meaning of gaap
• Origin of transaction
• The concept of debit and credit
• Subsidiary books or sub division of journal

Links of Next Accounting Topics:-

• Special journal
• Journal proper or general journal
• Opening and closing journal entries
• Balancing of ledger accounts
• Meaning of trial balance
• Balance sheet in final accounts without adjustments
• Adjustments additional information in preparation of final accounts
• Meaning of bank reconciliation statements
• Bills of exchange concept of bills of exchange
• Errors affecting or disclosed by trial balance introducing the concept
• Meaning of depreciation