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 [[ | + | A [[book of original entry]] (alternatively known as [[accounting journal]]; plural is known as [[books of original entry]] or, simply, [[journals]]; hereinafter, the ''Journal'') is any chronological log of [[financial transaction]]s. 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 report]]s are produced. |
| − | ==General | + | ==Definitions== |
| + | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
| + | :[[Book of original entry]]. Book that records the first formal information about [[financial transaction|business transaction]]s. A [[general journal]] is an example of a [[book of original entry]]. | ||
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| + | ==General journal== | ||
::''Main wikipage: [[General journal]]'' | ::''Main wikipage: [[General journal]]'' | ||
A [[general journal]] is a default ''Journal'' that every [[organization]] keeps. | A [[general journal]] is a default ''Journal'' that every [[organization]] keeps. | ||
==Cash book and other journals== | ==Cash book and 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 [[ | + | 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 [[financial transaction]]s pertaining to a specific area such as a [[cash book]], sales journal, purchase journal, payroll journal, etc. |
| + | |||
| + | ==Related concepts== | ||
| + | *[[Bookkeeping]]. Recording, filing, and retrieving of [[financial data]], as well as producing those [[financial report]]s that are required by laws. | ||
| + | |||
| + | ==Related lectures== | ||
| + | *[[Bookkeeping Quarter]]. | ||
| + | |||
| + | [[Category: Septem Artes Administrativi]][[Category: Articles]] | ||
Latest revision as of 19:33, 4 January 2019
A book of original entry (alternatively known as accounting journal; plural is known as books of original entry or, simply, journals; hereinafter, the Journal) is any chronological log of financial 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 reports are produced.
Contents
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Book of original entry. Book that records the first formal information about business transactions. A general journal is an example of a book of original entry.
General journal
- Main wikipage: General journal
A general journal is a default Journal that every organization keeps.
Cash book and 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 financial transactions pertaining to a specific area such as a cash book, sales journal, purchase journal, payroll journal, etc.
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
