Question

what is their place in modern book-keeping?​

Answer 1

Answer:

Step-by-step explanation:

Answer 2

Subsidiary Books:

• The books that systematically record transactions of a similar type are known as subsidiary books.
• They are also referred to as daybooks or particular journals.
• It is difficult to enter all the transactions in one journal and publish them to different accounts in large company organizations.
• The journal is thus separated into numerous subsidiary books in order to facilitate the quick and correct recording of all transactions.
• There is a different book for every different kind of transaction.

Role of subsidiary books in modern bookkeeping:

• Books of the original entry are called subsidiary books.
• In a typical commercial setting, the majority of transactions involve either sales, purchases, or cash.
• Therefore, we only keep track of transactions that are the same or comparable in type in the subsidiary book.
• Additionally, we document these transactions in time sequence.
• This genuinely saves a lot of time of laborious clerical work and man-hours.
• Each entry is recorded into a different auxiliary book rather than being journalized.
• These transactions are not recorded separately in the general ledger.
• The subsidiary book itself is used to post to the Ledger Accounts.
• The Practical System of Accounting, sometimes known as the English System, is the name of this system of recording.
• One thing to keep in mind is that such a system does not contravene the Double Entry System's regulations.
• The transactions have still been recorded using this system.
• Two accounts continue to be impacted by all transactions.
• However, we are employing subsidiary books as the books of original entry rather than a journal.

Read More:

1. https://brainly.in/question/12970193

2. https://brainly.in/question/34142954

#SPJ3