Special Journal

Special journals are used to record transactions that occurs very often. Information to be recorded in the special journal usually acquired from the source document. The following are the most commonly used special journals:

1. Sales Journal - record credit sales for trade item only. Do not record sale of asset in sales journal.
   
2. Purchase Journal - record purchase of trade item by credit only. Do not record purchase (credit) of asset in purchase journal.
   
3. Sales Return Journal - record goods from customers
   
4. Purchase Return Journal - record goods return to vendors. The total in the Purchase return journal will be posted to Purchase Return Account at the end of the month. The source document for Purchase Return Journal is the Credit Note received from vendor.
   

Please take note that the following will not be recorded in the special journals:

1. Cash sales
2. Purchase by cash
3. Purchase and sell of fixed asset