Sub journals or special journals are the other names of subsidiary books. is this statement right? first of all answer in yes or no.?

Question

Answer

Yes

Explanation:

Subsidiary Books: Subsidiary books, also known as sub journals or special journals, are books of original entry where transactions of similar nature are recorded in one place before they are posted to the general ledger.
Purpose: The main purpose of subsidiary books is to facilitate the recording of transactions more efficiently and to provide a detailed breakdown of specific types of transactions such as cash, sales, purchases, etc.
Types: Some common types of subsidiary books include Cash Book, Sales Book, Purchase Book, Sales Return Book, Purchase Return Book, and Journal Proper.
Advantages: Subsidiary books help in saving time, reducing errors, providing a detailed record of transactions, and making the process of preparing financial statements easier.
Integration: The totals from subsidiary books are periodically posted to the general ledger accounts, ensuring that the information is accurately reflected in the financial statements.