Adjusting journal entry

Adjusting journal entry is any journal entry that are needed in order to update specific ledger accounts to reflect correct balances at the end of an accounting period.

Definitions

Adjusting journal entries. Journal entries that are needed in order to update specific ledger accounts to reflect correct balances at the end of an accounting period.

Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.