Unformatted text preview: The four special journals for accounting can always reveal benefits from the organization of any company’s charges or collections. Whenever a company receives money or spends money, it will be noted. This notation is stored in a journal. The only problem of the numerous expenditures of the company would be the vast number or collections and expenses. This could confuse accountants and the record holders of the company. These four special journals could help organize all the expenses in one journal, all the revenue in another, all the money given in another, and all the cash receipts in another. This would avoid numerous inputs for debits and credit charges. Another benefit could be organized into its own domain; however, the person handling it is specialized in the type of journal. For instance, there are different types of journals, so there are different types of workers who can handle them. This allows for higher accuracy and better knowledge of the journal versus one person handling all journals at once.allows for higher accuracy and better knowledge of the journal versus one person handling all journals at once....
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This note was uploaded on 09/19/2011 for the course XACC 280 XACC 280 taught by Professor Eileendetka during the Spring '10 term at University of Phoenix.
- Spring '10