Uses of the General Journal /Journal Proper - with worked examples - Kisembo Academy

we have covered all the necessary books of prime entry. these books of prime entry are where specific transactions are posted. the transactions that are not defined by these books of prime entry are now posted to the general Journal. in this video, I get to show you some of the uses of the general Journal or known a the journal Proper.
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[@ninsiimamackiline2123]

Thanks Mr Kisembo infact I'm following your lectures, please keep it up

[@Kisembobusiness]

Pleasure is mine. Currently developing www.kisemboacademy.com where I'll be posting future videos

[@SimeonKambanji-gq3xp]

Thank you so much Mr kisembo , I really appreciate for your time to make this video for us to learn more about journal proper or general journal. I am watching you from Zambia lusaka

[@Kisembobusiness]

Thankyou for your feedback. Kindly follow www.youtube.com/@kisemboFAandQT for other Accounting Videos.

[@ellachiwaka9142]

Well explained thank you sir.

[@Kisembobusiness]

My pleasure

[@pambananazothole3889]

Thanks very much sir

[@Kisembobusiness]

My pleasure

[@ninsiimamackiline2123]

But I have a question,in ledgers do you open an account as katagwa or the account is debtors ac since he's a debtor

[@Kisembobusiness]

In Ledgers, you open the individual account (Debtor Katagwa) because in most cases you have more than one debtor and so it's important you open their separate accounts for purposes of tracking their credit history and performance. However at the time of preparing the trial balance, then all debtors can be consolidated and so you put the summation of all your debtors as one figure in the trial balance.

[@user-cq3ju1xr6n]

Thanks

[@Kisembobusiness]

Welcome

[@johncollins5120]

Hello sorry in the part of writting of bad debts i didnot get you clear you said in ledger you are supposed to credit the debtorrs account na debit the bad debts account what about the sales account if it was a sale of a good on credit wont you debit it also??

[@Kisembobusiness]

You don't have to debit the sales account. Why? Because during presentation of the financial statements, bad debts will appear in the expenses. Expenses reduce sales remember...((Sales - cost of sales) - expenses = net profit)). So if we debited the sales, then again included bad debts in the expenses in our income statement, it would mean that the bad debts have been deducted from the sales figure twice, which would be wrong. So, yes, the bad debts written off shall be deducted from the sales figure but this is not done by debiting the sales account in the ledger but rather it is done at the point of presentation of the income statement, when the bad debts are listed in the expenses. I hope this clears the confusion.

[@rcarr8472]

hey the voice timing with the video is off but great knowledge keep on doing these great vids

[@Kisembobusiness]

Thanks for the tip

[@atimpatience5449]

Buh u don't show the questions