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Memorandum Book or Waste Book

To maintain the records of company in proper way, accountant needs lots of books. One of them is memorandum book or waste book. Memorandum or waste book is that note book which is used to write the transactions when it happened before writing all these transactions in journal. It is needed where there are thousands of transactions are done within one day on the sale point. This book is very helpful to record in journal. Its other name is rough book, long book and rough copy book.

Sample of Memorandum book of Ram

Transactions of 6 July 2010
Credit sale to sham Rs. 20000
Credit purchase from Sita Rs. 30000
Wages paid Rs. 6000
Carriage paid Rs. 5000

Importance of Memorandum Book or Waste Book

Apparently, we can say that there is no need of waste or memorandum book in double entry system. But informally, to keep it is very important because to remember the large number of transactions is  impossible and if we record it in journal, it is very difficult to correct repeatedly. So, accountant can record all transaction on rough pages book and then record it in journal through memorandum book.

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Accounting Education: Memorandum Book or Waste Book
Memorandum Book or Waste Book
Accounting Education
https://www.svtuition.org/2010/07/memorandum-book-or-waste-book.html
https://www.svtuition.org/
https://www.svtuition.org/
https://www.svtuition.org/2010/07/memorandum-book-or-waste-book.html
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