Journal

1. Why do we create journal vouchers?

Ans: To keep a record of all the non-cash transactions or liabilities.

2. When do we create journal vouchers?

Ans: if we have to record the liabilities or have to25 book an amount for future expenses then we create a journal voucher.

3. How to create a voucher if there are both cash and non cash transactions?

Ans: At first create the journal with the full amount of the transaction then create the payment voucher to record the cash transaction. And the remaining amount of the transaction is recorded as a liability.

In this way, we can record the transaction of both cash and non-cash transactions.