Is there any method/trick/logic by which we can quickly form journal entries (basic as well as complicated ones)??
(Might seem an odd question but cometimes we do get stuck in certain situations!)
Regards
1 Replies
Pooja
(Final CA)
(502 Points)
Replied 13 August 2013
You must be very clear about the nature of item you are dealing with and the 'Three Golden Rules of Accounts'. If you know whether the item falls in Real a/c or personal a/c or nominal a/c catagories, you will be able to form journal entries quite easily and quickly.
Your Basics must be clear to be good with journal entries.
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