general journal

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      A general journal is a daybook or subsidiary journal in which transactions relating to adjustment entries, opening stock, depreciation, accounting errors etc. are recorded. The source documents for general journal entries may be journal vouchers, copies of management reports and invoices. Journals are prime entry books, and may also be referred to as books of original entry, from when transactions were written in a journal before they were manually posted to accounts in the general ledger or a subsidiary ledger.
      It is where double-entry bookkeeping entries are recorded by debiting one or more accounts and crediting another one or more accounts with the same total amount. The total amount debited and the total amount credited should always be equal, thereby ensuring the accounting equation is maintained.
      In manual accounting information systems, a variety of special journals may be used, such as a sales journal, purchase journal, cash receipts journal, disbursement journal, and a general journal. The transactions recorded in a general journal are those that do not qualify for entry in any special journal used by the organisation, such as non-routine or adjusting entries.


      Manual processing


      A bookkeeper or accountant would usually maintain the general journal. A general journal entry is a record of financial transactions in order by date. A general journal entry would typically include the date of the transaction (which may be dispensed with after the first entry of the day), the names of the accounts to be debited and credited (which should be the same as the name in the chart of accounts), the amount of each debit and credit, and a summary explanation of the transaction, commonly known as a narration. Each debit and credit account and the narration would be entered on consecutive lines, and typically at least one line would be left blank before the next journal entry, and entries should not be split over more than one page. Though not a requirement, it is widespread practice to enter the debits first, followed by the credits and then the narration. Whatever format is adopted, it should be applied consistently.
      There may be multiple debit or credit entries, but the sum of the debits must be equal to the sum of the credits. For example, multiple expenses (debits) may be paid with one payment (a credit).


      See also


      Sales journal
      Special journal
      Ledger
      Final accounts
      Waste book


      References

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    What Is General Journal? | Definition, Explanation, Formats

    Jun 13, 2023 · The journal, also known as the general journal, is involved in the first phase of accounting because all transactions are recorded in it, originally in chronological order. This is why the general ledger is also called the original book of entries, chronological book, or daybook.

    General Journal - What Is It, Example, Accounting, Format

    Guide to what is General Journal. We explain it with example, accounting, format, differences with general ledger, uses & advantages.

    General Ledger vs. General Journal: What's the Difference? - Investopedia

    Nov 21, 2024 · The general journal consists of raw accounting entries that record business transactions, in sequential order, by date. The general ledger is more formalized and tracks five...

    General Journal in Accounting - Double Entry Bookkeeping

    Sep 27, 2022 · The general journal sometimes referred to as the nominal journal, is a journal used to record transactions which do not belong in any of the other special journals such as the sales, purchases, cash receipts, and cash disbursement journals.

    What is a General Journal? - Definition | Meaning | Example

    Definition: The general journal is the master journal that all company transactions or journal entries are recorded in. A typical general journal has at least five columns: one for the date, account titles, posting reference, debit , and credit columns.

    General journal description | Entries | Example - AccountingTools

    Jan 24, 2025 · A general journal is the primary journal in which lower-volume accounting transactions are recorded, while the general ledger contains a summary of every recorded transaction.

    General Journal: Definition, Examples & Format - FreshBooks

    What Is a General Journal? A general journal is a chronological accounting record of a company’s financial transactions. The main purpose of this is to assist in the reconciliation of accounts and to assist with producing financial statements.

    General Journal: Definition, Example, Format, and Explanation

    The general journal is the book that entity firstly records all of the daily financial transactions in it. It is also called a book of original entries because all of the transactions are records in this book before moving to other books. The entity also records other non-financial transactions that occur in the business into this book also.

    General journal - Wikipedia

    A general journal is a daybook or subsidiary journal in which transactions relating to adjustment entries, opening stock, depreciation, accounting errors etc. are recorded. The source documents for general journal entries may be journal vouchers, copies of management reports and invoices.

    General Journal | Accounting Journal | Template | Example

    An accounting journal, also called the book of first entry or general journal, is a record of business transactions and events for a specific account. A journal chronologically stores all the journal entries for a specific account in one place, so management can analyze the data.