Definition: The cash disbursements journal, also called the cash payments journal, is a journal used record and track all the cash payments or disbursements by a company. In other words, all cash outflows are recorded in the cash disbursements journal.
What is Journal Proper? Journal Proper or General Journal Journal Proper is mainly used for original records of a transaction which due to their importance or rareness of occurrence do not find a place in any of the subsidiary books of accounting.
Definition: A purchases journal is a record of all acquisitions made on credit during a period. In other words, this is a journal that keeps track of the orders placed using vendor credit or accounts payable as well as the current balance owed to each vendor.
Purchases returns journal is a book in which goods returned to the supplier are recorded. This book is also known as returns outwards and purchases returns day book. Goods once purchased on credit may subsequently be returned to the seller for certain reasons.
Definition: The sales journal is used to record all of the company sales on credit. Most often these sales are made up of inventory sales or other merchandise sales. Notice that only credit sales of inventory and merchandise items are recorded in the sales journal. Cash sales of inventory are recorded in the cash receipts journal.