Aims & objectives of journalising of household transactions for a month
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Aims and objectives of journalising of monthly household transaction :-
Just like any business where all the financial transactions are chronologically recorded to know the correct financial position, the journalisation of monthly household transaction can be very useful.
The aims and objectives of journalising monthly household transactions are as follows.
1) Through journalising, we can keep the systematic record of all the expenses incurred in a month by us like tuition fees of children, expenses incurred on ration, expenses incurred on entertainment etc.
2) Through journalising, it is very easy for us to know about the exact date of any expense incurred by us.
3) Through journalising, we are able to know about exact amount that we are saving in a month.
4) With the help of complete record, we are able to judge about unnecessary items on which we are keep on spending money and hence by curtailing expenditure on such useless items, we can save more money.
5) With the help of complete record we can improve cost control measures.
6) With the help of journalising we can manage our home in a efficient and effective manner.
Just like any business where all the financial transactions are chronologically recorded to know the correct financial position, the journalisation of monthly household transaction can be very useful.
The aims and objectives of journalising monthly household transactions are as follows.
1) Through journalising, we can keep the systematic record of all the expenses incurred in a month by us like tuition fees of children, expenses incurred on ration, expenses incurred on entertainment etc.
2) Through journalising, it is very easy for us to know about the exact date of any expense incurred by us.
3) Through journalising, we are able to know about exact amount that we are saving in a month.
4) With the help of complete record, we are able to judge about unnecessary items on which we are keep on spending money and hence by curtailing expenditure on such useless items, we can save more money.
5) With the help of complete record we can improve cost control measures.
6) With the help of journalising we can manage our home in a efficient and effective manner.
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