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Explain the concept of reccuring journals ?
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Answer Posted / mstapps
Reccuring journal means journals, which are
repetitive nature is a year. On the basis of amount
reccuring journals are three types
1. Formula journals
2. Skeliton journals
3. Standard journals
FORMULA : means journal entries use formulas to create
journal amounts that vary from period to period
SKELITON : means journals have same accounts but have
different posting amounts
STANDARD : means journal entries use the same accounts and
amounts in each period
| Is This Answer Correct ? | 24 Yes | 2 No |
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