Question

Explain Subsidiary Books?

Answer 1

Answer:

Subsidiary Books are those books of original entry in which transactions of similar nature are recorded at one place and in chronological order. In a big concern, recording of all transactions in one Journal and posting them into various ledger accounts will be very difficult and involve a lot of clerical work.

Answer 2

Answer:

A subsidiary book is a company's financial record of transactions that are unrelated to its primary operation.

Explanation:

Accounting records known as subsidiary books are used to record transactions that take longer to enter into the general ledger. These books are used to keep track of transactions in a more thorough and precise manner. Inventory, accounts receivable, and accounts payable data can all be found in subsidiary books. By using subsidiary books, transactions can be more precisely recorded and more information that can aid in decision-making can be obtained. It is impossible to retain and maintain a record of every business transaction that takes place in large organisations since there are so many of them. While not documenting even the smallest transaction might cause devastation, the company will never do this. This is where the subsidiary books enter the picture and step in to save the day. In general, there are 8 main kinds of subsidiary books that are used to record various kinds of transactions. So, please tell us the types. The following are the 8 subsidiary books:

1. Cash Book
2. Purchase Book
3. Sales Book
4. Purchase Return Book
5. Sales Return Book
6. Bills Receivable Book
7. Bills Payable Books
8. Journal Proper

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