Financial Accounting – Subsidiary Ledgers & Special Journals
All LevelsFinance & AccountingFinancial Accounting

Financial Accounting – Subsidiary Ledgers & Special Journals

Mastering Special Journals and Subsidiary Ledgers: A Comprehensive Guide to Streamlined Accounting Practices

Created by Robert (Bob) Steele
11.5 hours
Video Content
79
Lectures
47,503
Students
4.5
Rating
4.5
(47,503 students enrolled)

What you'll learn

Identify and explain the role of special journals in simplifying data entry and ledger maintenance in accounting.
Accurately categorize diverse financial transactions and record them in their respective special journals.
Analyze the impact of special journals on reducing general ledger postings and enhancing data management efficiency.
Differentiate between the usage and purpose of accounts receivable and accounts payable subsidiary ledgers.
Develop, maintain, and interpret subsidiary ledgers, improving the understanding of debtor and creditor relationships.
Leverage Excel tools for robust data management, aiding in the analysis of accounting transactions.
Improve problem-solving skills by evaluating complex accounting problems through multiple-choice questions.
Utilize downloadable PDF resources to expand learning beyond course videos, facilitating comprehensive study and review.
Apply course-acquired knowledge and skills to address real-world accounting problems, boosting professional competence.

Course Content

10 sections • 79 lectures • 11:44:28 total length

Introduction

4 lectures • 26:18

Introduction09:53
PDF - Special Journals & Subsidiary Ledgers00:08
2 Special Journals Subsidiary Ledgers16:02
Accounting Comic Break00:15

Accounts Receivable Subsidiary Ledger

7 lectures • 42:09

PDF - 5 AR subsidiary ledgers D & D new00:08
5 Accounts Receivable AR Subsidiary Ledger Explained09:00
Excel Worksheet00:05
Worksheet - Accounts Receivable Subsidiary Ledger 700 Part 1-12:31
700.20 Accounts Receivable Subsidiary Ledger 700 Part 2-Accounting instructions11:58
+4 more lectures

Accounts Payable Subsidiary Ledger

7 lectures • 42:53

PDF - 6 AP subsidiary ledgers D & D New00:08
6 Accounts Payable AP Subsidiary Ledger07:52
Excel Download00:05
Worksheet - Accounts payable subsidiary ledger12:31
700.10 Accounts payable subsidiary ledger 700 part 2-Accounting%2C Financial13:35
+4 more lectures

Sales Journal

11 lectures • 01:08:23

Sales Journal01:18
PDF - 10 Sales Journal Service Company00:08
20 Sales Journal Service Company09:16
Excel Worksheet00:05
Worksheet - Sales Journal19:13
+8 more lectures

Purchases Journal

11 lectures • 01:09:52

Purchases Journal01:04
PDF - 30 Purchases Journal Service Company00:08
30 Purchases Journal Service Company10:29
Excel Worksheet00:05
6 Worksheet - Purchases Journal23:02
+8 more lectures

Cash Receipts Journal

7 lectures • 01:04:28

Cash Receipts Journal01:17
PDF - 40 Cash Receipts Journal00:08
40 Cash Receipts Journal18:59
Excel Worksheet00:05
Worksheet - Cash Receipts Journal33:51
+4 more lectures

Cash Payments Journal

8 lectures • 01:10:23

Cash Payments Journal01:22
PDF - 50 Cash Payment Journal00:08
50 Cash Payments Journal Service Company13:40
Excel Worksheet00:05
4 Worksheet Cash Payment Journal27:39
+5 more lectures

Comprehensive Problem

11 lectures • 03:32:06

Comprehensive Problem02:05
Excel Worksheet00:05
Comprehensive Problem Special Journals Part 127:50
Comprehensive Problem Special Journals Part 225:02
Comprehensive Problem Special Journals Part 330:37
+7 more lectures

Definitions & Key Terms

13 lectures • 38:12

Accounts Payable Ledger Definition - What is the Accounts Pa02:38
Accounts Receivable Ledger - What is Accounts Receivable Led02:07
Cash Disbursements Journal - What is Cash Disbursements Jour03:37
Check Register Definition - What is Check Register%3F02:39
Compatibility Principle Definition - What is Compatibility P02:01
+8 more lectures

CPE Qualified Assessment

0 lectures • 00:00

CPE Qualified Assessment12 questions

Description

In this course, you'll first delve into the understanding and practical utilization of special journals. Special journals are a useful tool for reducing data input and simplifying the accounting process. You'll learn to categorize transactions by type and record them into these specific journals, transforming the way transactions are posted to the general ledger and streamlining the monthly closing process.

Next, you'll explore the significance of implementing accounts receivable and payable subsidiary ledgers, especially in systems where sales and purchases are made on account. These subsidiary ledgers, which keep track of the money owed to and by your business, play a crucial role in efficient account management. You'll learn how to create, maintain, and use these ledgers to enhance your accounting practices, ensuring every penny is accounted for.

The course then moves on to the more specific aspects of accounting, including the navigation of sales, purchases, cash receipts, and cash payments journals. Each of these journals is crucial to the financial health and operational efficiency of any business. You'll gain detailed insights into how each journal functions, how they interact with each other, and how to leverage them effectively in your accounting practices.

We will also have a strong focus on tackling comprehensive accounting problems. We'll walk you through numerous scenarios and case studies, providing hands-on experience in dealing with complex accounting issues. We believe that the best way to learn is by doing, and these problems will give you ample opportunity to practice and apply what you've learned.

Excel essentials for accounting are also a significant part of the course. Given that most accounting tasks today are performed digitally, it's important for every accountant to be comfortable with Excel. We'll cover the basics like addition and subtraction, cell relationships, and then delve into more complex functions and features that can save you hours of work.

Lastly, this course will familiarize you with the key definitions and terminologies used in the field of accounting. Understanding this language is crucial for effective communication in the business world, and for making sense of complex financial documents and reports. This foundation will support all of your future learning and work in accounting.

In essence, this course offers a well-rounded and in-depth study of accounting, taking you from the basic concepts to more complex practices and problems. Whether you're an accounting professional or a student just starting your journey in the field, this course is designed to equip you with the knowledge and skills you need to succeed.

Who this course is for:

  • Intermediate Accounting students who are looking to deepen their understanding of special journals and subsidiary ledgers.
  • Aspiring accountants or financial professionals who want to gain practical skills in managing accounts receivable and payable ledgers.
  • Business owners who need to understand these accounting techniques for improved business financial management.
  • Professionals in the finance field who aim to upgrade their skills or need a refresher on these accounting procedures.

This course includes:

  • 11.5 hours on-demand video
  • 0
  • 20 downloadable resources
  • Access on mobile and TV
  • Full lifetime access
  • Certificate of completion

Instructor

Robert (Bob) Steele

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