In this course, you’ll learn how to record transactions using special journals and manage accounts receivable and accounts payable through subsidiary ledgers. Building on a solid understanding of debits and credits, we explore how accounting systems can be made more efficient by grouping similar transactions and reducing data input. You'll see how special journals streamline the manual recording process and reduce the need for frequent posting to the general ledger.

Even though special journals are traditionally part of manual systems, understanding their role enhances your knowledge of any accounting system, including automated ones. We’ll also cover the importance of subsidiary ledgers in tracking customer and vendor balances — a crucial component of managing sales and purchases on account in any business environment.