CRJ and CPJ is the part of learning basic accounting. In foreign countries, basic accounting learning starts from 8th grade where the teacher explains CRJ and CPJ. So, today, we will explain these two basic terms of accounting.
Meaning of CRJ
CRJ means cash receipt journal. In CRJ, we record only cash receipts. There are lots of sources of receiving cash, so, we can make different columns in this journal. In higher classes, this journal is not made, it is included in the debit side of cash book.
Meaning of CPJ
CPJ means cash payment journal. In CPJ, we record only cash payments. These payments are done for creditors, repayment of loans and other expenses. For knowing how much payment has been done, we show the different columns. For paying different creditors, we show creditors column in CPJ. In higher classes, this journal is not made, it is included in the credit side of cash book.
Following screenshot will teach you that both CRJ and CPJ will become the part of cash book.
{Remember : When we make cash book from CRJ and CPJ, we will either leave discount allowed and discount received or we will make special column in cash book. Both cash allowed and discount received are not receipt or payment of cash. Discount allowed is loss of business. Discount received is gain of business which will be transferred to profit and loss account}
Meaning of CRJ
CRJ means cash receipt journal. In CRJ, we record only cash receipts. There are lots of sources of receiving cash, so, we can make different columns in this journal. In higher classes, this journal is not made, it is included in the debit side of cash book.
Meaning of CPJ
CPJ means cash payment journal. In CPJ, we record only cash payments. These payments are done for creditors, repayment of loans and other expenses. For knowing how much payment has been done, we show the different columns. For paying different creditors, we show creditors column in CPJ. In higher classes, this journal is not made, it is included in the credit side of cash book.
Following screenshot will teach you that both CRJ and CPJ will become the part of cash book.
{Remember : When we make cash book from CRJ and CPJ, we will either leave discount allowed and discount received or we will make special column in cash book. Both cash allowed and discount received are not receipt or payment of cash. Discount allowed is loss of business. Discount received is gain of business which will be transferred to profit and loss account}
Solution Problem Relating to CRJ and CPJ
Hi,how do you enter R/D cheques (for a debtor) into the CPJ? Thank you.
ReplyDeleteWhere do i record sales returns that were sold on credit? In the CPJ or CRJ?
ReplyDeleteHello my quesrion is issued a cheque to Nashua for R420 to pay for cell-phone charges,so do i record it in CRJ OR CPJ
ReplyDeleteHow to complete the CPJ
ReplyDeleteDoes eft payments still be entered in cpj
ReplyDelete