Difference between revisions of "Book of original entry"
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| − | A [[book of original entry]] (alternatively known as [[accounting journal]]; hereinafter, the ''Journal'') is any chronological log of [[business transaction]]s. The data recorded in the ''Journal(s)'' is further summarized and posted into a [[general ledger]] or other [[book of final entry]], from which [[financial statement]]s are produced | + | A [[book of original entry]] (alternatively known as [[accounting journal]]; hereinafter, the ''Journal'') is any chronological log of [[business transaction]]s. The data recorded in the ''Journal(s)'' is further summarized and posted into a [[general ledger]] or other [[book of final entry]], from which [[financial statement]]s are produced. |
| − | == | + | |
| − | A [[general journal]] is a default ''Journal'' that every [[organization]] keeps. In addition, [[organization]]s may choose to keep one or more of cash | + | ==General Journal== |
| + | ::''Main wikipage: [[General journal]]'' | ||
| + | A [[general journal]] is a default ''Journal'' that every [[organization]] keeps. | ||
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| + | ==Other Journals== | ||
| + | In addition to a [[general journal]], [[organization]]s may choose to keep one or more of other ''Journals''. Each additional ''Journal'' contains detailed records for the types of [[business transaction]]s pertaining to a specific area such as a cash journal, sales journal, purchase journal, payroll journal, etc. | ||
Revision as of 18:21, 9 December 2018
A book of original entry (alternatively known as accounting journal; hereinafter, the Journal) is any chronological log of business transactions. The data recorded in the Journal(s) is further summarized and posted into a general ledger or other book of final entry, from which financial statements are produced.
General Journal
- Main wikipage: General journal
A general journal is a default Journal that every organization keeps.
Other Journals
In addition to a general journal, organizations may choose to keep one or more of other Journals. Each additional Journal contains detailed records for the types of business transactions pertaining to a specific area such as a cash journal, sales journal, purchase journal, payroll journal, etc.
