Hello every one my name is ikramullah and this is the submission post of my acccounting LINK by my teacher @citysilver45.

Introduction of subsidiary in accounting

Subsidiary books are the data carrier of accounts. it means these books hold all the mentioned numbers and figures in order which is used by the direct merchandise or organization etc. these books contain the numbers which are used at first on any transactions of amounts and items. These books are also called company journals. These books hold the records of similar yet regular transactions and data of any organization.

Importance of subsidiary

Work efficiency

increase the work efficiency while different books are being handled by different person. It means that different subsidiary are like different diaries of every other person which hold information by certain person while the data is also handled efficiently.

Accuracy

while the data is being stored in different books then it would highly be qualify to get accuracy ratio by the handlers. every thing would be accurate when ever the data is needed.

Decision making

these books can also help to make perfect decision yet high profitable discussions which might be good for the organizations and the employees themselves. while the power of decision involves the head of the organization he can see the ups and downs by just looking at the books and can make a decision precisely.

Types of subsidiary

Cash book

this book hold the data of all the dealing of cash. it includes all the transactions by the different members of organization at different times. these books are responsible for all the money transactions. mainly these are handled by the owner of the company on regular basis.

Purchases day book

This book deals with all the information regarding the day when company invest / purchase something from any one / anywhere. this book hold all the records of all purchases by all the employees and owners as well.

Bills payable book

this book hold the record of all the bills the organization had to pay and the main reason is to manage this book is to check the utilizations of external resources in any company to monitor profit margin. This book also holds dates of the due bills.

Sales day book

this book hold the record of all the sales which are being made by the specific day.

Bills receivable book

This book hold all the record which contain the bills which are being received by the organization by different people. or the amounts which are due by others to the company.

is subsidiary books are double entry accounting

yes subsidiary books are part of the double entry system in accounting.

i want to invite my friends @princeifeko , @yeri52 and @katherine012 to take part in this activity
Link to my introduction post LINK

Cc:
@citysilver45
@@@ngoenyi