Define the purpose of maintaining subsidiary journal.
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Purpose of maintaining a subsidiary journal.
Explanation:
The following are the purpose of maintaining a subsidiary journal.
- Saving Hours: Recording in a subsidiary book saves considerable time and hours of clerical work.
- Work division: We have several subsidiary books instead of one general journal. This will save time, improve efficiency and also result in fewer mistakes.
- Work Specialization: When one person has the same subsidiary book over many years, he acquires full knowledge and understanding of the work.
- Easy for Reference: We refer the subsidiary book directly to provide such information whenever any information is needed.
- Easier for Checking: We can easily locate the error in subsidiary books in case of Trial Balance do not match.
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