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Explain the concept of reccuring journals ?
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Answer Posted / nossam mallikharjuna reddy
there are 3 types of recurring journals..such as
1.standard recurring journal
2.skelton recurring journal
3.formula recurring journal
1.standard recurring journal:-
journals which are repeating with same account and same amount each and every accounting period is called a standard recurring journal.
2.skelton recurring journal.
journals which are repeating with partial information each and every accounting period is called a skelton recurring journal.
3.formula recurring journal.
in case of formula recurrring journal ,journal amount will be calculated by application using formula.
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