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Explain the concept of reccuring journals ?

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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