How do you understand the meaning of journal ledger in the USCPA exam?

The so-called journal general ledger is a kind of joint account book that combines the sequential account book with the general ledger book, and also functions as the sequential account book and the general ledger book.

It concentrates all the general ledger accounts in one account page, registers all economic transactions on a daily basis according to the accounting vouchers, and finally summarizes them according to each account, and calculates the loan, credit and closing balance respectively.

It is both a journal and a general ledger. It is a type of main account book used in the form of journal general ledger accounting.

When registering the journal ledger, the debit and credit amounts of each economic transaction should be filled in the debit column or credit column of the corresponding account according to the debit and credit accounts in the same line, and this amount should be recorded in the "incurred" column of the same line.

In the event of a transfer, the general ledger of the journal shall be registered on a daily and transaction-by-case basis according to the transfer voucher. For the receipt and payment business, the general ledger of the journal can be summarized and registered according to the receipt and payment vouchers on a daily basis, and the summary registration can also be made according to the multi-column cash journal and bank deposit journal at the end of the month.

At the end of each month, the current amount and month-end balance of each account should be calculated.

Among them, the total of the current month in the column of "Occurrence Amount" should be consistent with the total amount of debit and credit occurrence of all accounts.

It is a joint account book that combines journals and ledgers, which is to set up all accounts on one account page, and register all economic transactions that occur in sequence based on accounting vouchers, and at the end of the month, the figures registered on the debit and credit sides of each account are added up separately, and the month-end balance of each account is calculated.

As the carrier of accounting entries, accounting vouchers are vouchers that prove that the accounting information system handles economic operations.

There are many types of accounting vouchers and different formats, but their main role is to classify and sort out the original vouchers, use accounting subjects and prepare accounting entries in accordance with the requirements of double-entry bookkeeping, and register account books accordingly. Therefore, the accounting voucher must have the following basic contents:

1) The name of the accounting voucher.

2) The date of filling in the accounting voucher.

3) The number of the accounting voucher.

4) Summary of economic and business matters.

5) The accounting subjects involved in economic business matters and their bookkeeping directions.

6) The amount of economic business matters.

7) Bookkeeping mark.

8) The number of original vouchers attached.

9) Accounting supervisor, bookkeeping, auditing, cashier, document preparation and other relevant personnel signature.

Basic Requirements: 1) The contents of the accounting voucher must be complete.

2) Accounting vouchers should be numbered consecutively. If an economic transaction needs to fill in more than two accounting vouchers, the fractional numbering method can be used.

3) The writing of accounting vouchers should be clear and standardized. The relevant requirements are the same as the original documents.

4) Accounting vouchers can be filled in according to each original voucher, or compiled according to a number of similar original vouchers, or can be filled in according to the summary table of original vouchers. However, it is not allowed to summarize the original vouchers of different contents and categories on a single accounting voucher.

5) Except for the accounting vouchers for settlement and correction of errors, the original vouchers must be attached to other accounting vouchers.

In the USCPA exam, the bookkeeping voucher is a book that opens accounts and pages according to accounting subjects, and is used to record and reflect economic transactions in a timely and categorical manner. (The account book is also a database for accumulating and storing economic activities).

General ledger refers to the general ledger (letter folder), also known as the general ledger. It is a ledger book that opens accounts according to general ledger accounts, which is used to register all economic operations, carry out general classification accounting, and provide general accounting information. The accounting information provided by the general ledger is the main basis for the preparation of accounting statements, and any unit must set up a general ledger.

The general ledger is generally in the form of a stapled book. The format of the ledger page of the general ledger generally adopts the three-column format of "debit", "credit" and "balance", and according to actual needs, it is also possible to add the column of "account for liquid tank" in the two columns of "debit" and "credit". The page format of the general ledger can also be in a multi-column format, such as combining sequence records and general ledger records into a joint ledger, i.e., a journal general ledger.

The basis and method of registration of the general ledger depends mainly on the form of accounting used. It can be directly registered one by one according to various accounting vouchers, or the accounting vouchers can be summarized in a certain way, compiled into a summary table of accounts or summary accounting vouchers, etc., and then registered.

The general ledger is a first-level account, and the general is in charge of the detailed accounts.

The books registered according to the sub-ledger account are called sub-ledgers, referred to as "sub-ledgers". The sub-ledger, also known as the sub-ledger, is set up according to the sub-ledger account to which the general ledger account belongs, and is used to classify and register a certain type of economic business items and provide relevant detailed accounting information.

The sub-ledger can be stapled, loose-leaf, three-column, multi-column, and quantity-amount.

A subsidiary ledger is an account book set up according to the secondary or detailed accounts, and generally adopts a loose-leaf account book. Each unit shall, in light of the characteristics of its own economic business and the requirements of operation and management, set up a number of sub-ledgers on the basis of the general ledger as a supplement to the general ledger. The sub-ledger can be divided into three-column, quantity, amount and multi-column according to the different format of the book.

a) Three-column type.

The three-column ledger page has three amount columns: debit, credit, and balance, and there is no quantity column. This format is suitable for the registration of various journals, general ledgers, and detailed accounts of capital, creditor's rights, and debts. It is suitable for those detailed accounting that only needs to be calculated for the amount and does not need to be calculated for the quantity, such as:"Accounts receivable"、"Accounts payable"and other creditor's rights and debts settlement accounts.

2) Quantity and amount formula.

The three columns of debit, credit and balance of the quantity-amount sub-ledger are divided into three sub-columns: quantity, unit price and amount, so as to reflect the physical quantity and value of property and materials. This format is suitable for the detailed accounting of various property fields and materials that need to be accounted for both the amount and the quantity of the account, such as"Raw materials", "Inventory Items","Finished products", "turnover materials" and other property and material accounts of the detailed classification accounting.

c) Multi-column.

The multi-column ledger page is divided into several columns according to the detailed account or detailed item, so as to reflect the amount of each relevant detailed account or each detailed item of a detailed account in a centralized manner on the same account page. This format is suitable for detailed accounting of expenses, costs, revenues and achievements, such as:"Manufacturing costs"、"Management fees"、"Non-operating income"with"Non-operating expenses"and other accounts.

The account books registered in the sub-classified accounts are called sub-ledgers, referred to as "sub-ledgers". The sub-ledger, also known as the sub-ledger, is set up according to the sub-ledger account to which the general ledger account belongs, and is used to classify and register a certain type of economic transaction and provide relevant detailed accounting information.

In the CPA examination, the accounting voucher is the carrier of accounting entries and the voucher that proves that the accounting information system handles the economic business.

According to its applicable economic business, it is divided into two categories: special accounting vouchers and general accounting vouchers.

1) Special accounting voucher: used to record a certain type of economic business accounting voucher. According to whether the economic business recorded in the special voucher is related to the receipt and payment of cash and bank deposits, it is divided into three types: receipt voucher, payment voucher and transfer voucher.

a.Receipt voucher: An accounting voucher used to record cash in hand and bank deposit receipts.

It is based on the original vouchers related to cash and bank deposit income business, is the basis for registering cash journals, bank deposit journals, relevant sub-ledgers and general ledgers and other account books, and is also the basis for cashiers to receive payments.

b.Payment voucher: An accounting voucher used to record cash in hand and bank deposit payment transactions.

It is based on the original vouchers related to cash and bank deposit payment operations, and is the basis for registering cash journals, bank deposit journals, relevant sub-ledgers and general ledgers, and is also the basis for cashiers to pay the money.

c.Transfer voucher: An accounting voucher used to record transactions that do not involve cash on hand and bank deposits. It is based on the original voucher of the transfer transaction. The transfer voucher is the basis for the registration of the general ledger and the relevant sub-ledger.

2) General accounting vouchers: accounting vouchers used to record various economic operations.

In economic units where economic transactions are relatively simple, general accounting vouchers can be used to record various economic transactions that occur in order to simplify the vouchers.

Accounting vouchers are divided into two categories: double-entry vouchers and single-entry vouchers according to whether the accounting subjects they include are single.

1) Double-entry voucher: also known as multi-account voucher, which is a voucher that reflects all the accounting subjects involved in each economic business event and its amount in the same accounting voucher. Pros:

It can reflect the correspondence of the accounts of an economic business in a centralized manner, so as to facilitate the overall picture of the economic business, reduce the number of vouchers, save paper, etc. Disadvantages: It is not convenient to summarize and calculate the amount of each ledger account.

2）.Single-entry voucher: also known as single-account accounting voucher.

Each accounting voucher is filled in with only one accounting account and its amount involved in the economic business transaction. Advantages: The content is single, which is convenient for summarizing and calculating the amount of each accounting account, and is convenient for division of labor and bookkeeping.

Disadvantages: the workload of certificate making is large, and the whole picture of the economic business can not be reflected on a voucher, the content is scattered, it is not convenient to check the accounts, and it is easy to make mistakes.

Accounting vouchers, also known as accounting vouchers, are accounting vouchers filled in by accountants according to the content of economic and business items according to the original vouchers that are audited and correct, and based on which the accounting entries are determined. It is the direct basis for registering the books of accounts.

The accounting voucher must have the following basic contents:

1) The name of the accounting voucher and the name of the filling unit;

2) The date of filling in the accounting voucher.

3) The number of the accounting voucher.

4) Summary of economic and business matters.

5) The accounting subjects involved in economic business matters and their bookkeeping directions.

6) The amount of economic business matters.

7) Bookkeeping mark.

8) The number of original vouchers attached.

9) Accounting supervisor, bookkeeping, auditing, cashier, document preparation and other relevant personnel signature.

It is an accounting voucher that is filled in by accountants based on the original vouchers or summary vouchers that are verified and correct, and used to determine the accounting subjects and amounts that should be borrowed and credited for economic operations, and are used as the direct basis for registering account books.

Settlement refers to the calculation and recording of the amount incurred in the current period and the closing balance after all the economic operations that should be recorded in the account books in a certain period of time, and the balance is carried forward to the next period or a new account book.

Accountants shall, in accordance with the regulations, settle the cash and bank deposit journals on a daily basis, and settle the accounts on a monthly, quarterly and annual basis for other accounts.

At the end of the month, a single red line should be drawn under the last economic transaction of the month, and the words "total of this month" and "amount and balance of this month" should be indicated in the "summary" column under the red line, and the total number of this month and the balance at the end of the month should be filled in the "debit" column, "credit" column or "balance" column respectively, and the direction of borrowing should be indicated in the "debit or credit" column. Then, draw another red line under this line to clear the next month's amount.

At the end of the quarter, the next line of the last month of each quarter usually indicates "Quarterly Total" or "Quarterly Occurrence and Balance" in the "Summary" column, along with the total amount of loans and credits and the balance at the end of the quarter. Then, draw a single red line below this line to indicate the end of the season.

At the end of the year, in the next line of the fourth quarter, indicate "Total for the Year" or "Amount and Balance for the Year" in the "Summary" column, along with the amount of loans, credits and the balance at the end of the period. Then, draw a double red line under this line to indicate that the account is closed.

After the annual settlement.

The general ledger and journal should be replaced with new accounts, and the subsidiary ledgers should generally be replaced as well. However, some sub-accounts, such as fixed asset sub-accounts, can be used continuously and do not have to be replaced every year. At the end of the year, the balance of each account should be carried forward to the next fiscal year, and only the words "carried forward to the next year" should be indicated in the summary column, and the carry-over amount should not be copied.

If there are blank rows below the "Carry forward to next year" line on the account page, they should be written off with a diagonal slash in red from the upper right corner of the balance column to the lower left corner of the date column. Fill in the balance carried forward from the previous year in the first row of the new accounting book for the next fiscal year, and indicate the words "carried forward from the previous year" in the summary column.

Before preparing financial statements.

The general ledger and sub-ledgers must be registered completely, and the trial calculation must be balanced, and it is not allowed to issue statements first, and then make up account books and handle settlements.

Involving creditor's rights and debts.

When filling in the "carry-over from the previous year", you should also fill in the summary column the date of occurrence of the component amount and the description of the main economic business content, if the summary column of one line cannot be completed, you can continue to fill in the summary column of the second line, and fill in the balance column of the last line of the balance of the previous year.