On 2/25/2018 2:06 PM, Dave H wrote:
Thanks for explaining the distinction Michael.
So I take from all this that the General Journal/General Ledger
distinction is an historical distinction no longer in real use with
the advent of computerised accounting software.
No, that wasn't quite what I said. Look at it again.
Even with computerized accounting software might want/need this
distinction. Might WANT the books partitioned.
For example, in an enterprise of some size (not all that big) you MIGHT
want (for example)
a) The office manager to have a small fund (petty cash) for things it
was decided could just be purchased without going through the purchasing
department.
b) Each sales location to be entering individual sales with only the
daily totals going to main books.
etc.
Not JUST reducing the work load on the main enterprise bookkeeper. Not
JUST reducing clutter and unnecessary detail in the main books. Not JUST
that lower level employees can lack access to look at more than they
need to (do you want EVERYBODY who needs access to be able to enter data
to look at, for example, payroll to see what somebody else is getting
paid. Note that with something like that reduced risk that the office
manager or somebody in a sales office, etc. could do more than limited
embezzlement on their own.
Michael D Novack
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