Difference between revisions of "Book of original entry"
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| − | 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 | + | 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 book]], sales journal, purchase journal, payroll journal, etc. |
Revision as of 00:46, 13 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 Journals or Journals 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 book, sales journal, purchase journal, payroll journal, etc.
