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.
ReplyDeleteu bassicaly just add an extra column
Delete𝕀 𝕕𝕠𝕟'𝕥 𝕜𝕟𝕠𝕨
DeleteHii can I ask where do you put money that is deposited into the business bank account in crj
DeleteWhere 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
ReplyDeleteIt goes in the CPJ since you are making a payment (and
DeleteMoney is leaving the bank)
yes
Deleteyes
How to complete the CPJ
ReplyDeleteDoes eft payments still be entered in cpj
ReplyDeleteYes
Deleteyes
DeleteYes
DeleteHow to record a transaction that have EFT
ReplyDeleteEFT goes to the CPJ side
DeleteWhere the heading is Doc and then add the date,the owner of the business (business name)
So on and so forth
Captured the same as any other transaction except your source document will be a bank statement
Deletewhat document does cash sales fall under? Is it CRR, INVOICE, REC?
ReplyDeleteYes
Deletethanks
ReplyDeleteSo we're record eft only at cpj??
ReplyDeleteDo we record refunds under crj or cpj
ReplyDeleteWhere do we put it if it says “interest on current account” ?
ReplyDeleteHow do you enter the transaction into the crj
ReplyDelete