Journal
Journal is a book which records every financial transaction of business organization. The financial transactions are firstly recorded into journal in chronological order. It is known as "Book of original entry ." Journal is a book of prime or original entry in which all the transactions pf a business are systematically recorded according to their dates of occurrence and is maintained with a view to help prepare the subsequent ledger book.
Journal is derived from the word 'jour' which means a diary or long book i.e. daily books. Journal can be defined as a book which records financial transactions of each day based on the principle of double entry book keeping.
According to R.N. Carter, 'The journal' or 'daily record' as originally used was a book of prime entry inn which transactions were copied in order of date from a memorandum or waste book. The
entries as they were copied, were classified into debits and credits, so as to facilities their beings correctly posted afterward in the ledger.'
Journal is a book which records every financial transaction of business organization. The financial transactions are firstly recorded into journal in chronological order. It is known as "Book of original entry ." Journal is a book of prime or original entry in which all the transactions pf a business are systematically recorded according to their dates of occurrence and is maintained with a view to help prepare the subsequent ledger book.
Journal is derived from the word 'jour' which means a diary or long book i.e. daily books. Journal can be defined as a book which records financial transactions of each day based on the principle of double entry book keeping.
According to R.N. Carter, 'The journal' or 'daily record' as originally used was a book of prime entry inn which transactions were copied in order of date from a memorandum or waste book. The
entries as they were copied, were classified into debits and credits, so as to facilities their beings correctly posted afterward in the ledger.'
1 comments:
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