What is a general magazine?

The general magazine is an accounting tool that companies use to record financial information. This magazine is the basis of a double input system because debit and credits are recorded that represent real financial transactions. This diary is governed by the concept of the accounting equation, which is the same commitments plus its own capital. All debit recorded in the magazine will be equal to the total amounts of credits recorded companies, which maintains the integrity of the accounting equation. The general diary consists of individual transaction accounts along with special items from other special magazines. Common general accounts include sales and administrative expenditures, wage payments, marketing or advertising, as well as other different overhead accounts. The financial information recorded in these accounts is generally not attributed to the specifications of the Sales Department or Products produced by the Company. These accounts usually represent the overhead costs of the company that must be paid in order for the company to stay in PR PRthe problem of the problem.

Special items found in the general magazine come from a number of special accounting magazines. These magazines often include wages, sale, payable accounts, receivables and cash. Companies may have several special magazines, depending on their business operations and a workflow of the accounting office. Payroll magazine contains all information about payments made when hiring outside work. This information can be separated as payments made for pension plans, health or other benefits, as well as regular compensation and bonuses. Companies often allocate wage balance by different departments; The unobsted amounts may fall into the general magazine of the company.

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Sales Journal contains information on any sale of goods or services that meet individuals and businesses. This diary may also include cost informationThe goods sold to maintain precise records of stocks. The financial information contained in the general journal on sales often includes modifications for sales, sales discounts or inventory modifications.

Payable diaries are reported to all amounts owed to vendors, suppliers or other individuals and businesses. Companies use this special magazine because they often have extensive balances of payable accounts that owe different individuals or businesses. The magazine magazine is very similar to the magazine payable accounts. However, the magazine for receivables contains information on money owed by individuals or companies of the company. The General Diary is often used in conjunction with these special magazines for depreciating obsolete balances or correcting the errors that are reached during the rejection of financial tables or receivables.

Final Special Magazine includes items on the company's cash balances. Any mistakes related to banking or otherModifications can be recorded in the General Journal of the Company. Smaller companies with limited capital resources do not have to use a special diary to record cash records because cash is related to all functions in business.