Accounting Dictionary - Accounting Definitions

General Journal

General Journal is a prime entry book used to record transactions which had an impact on the financial position of the business.

In practice it is used to record only those transactions which do not fit to any other prime entry book, like sale or purchases day book or others.

Usually General Journal has two column format. One column is for Debit and the other column is for Credit. While recording the transaction in the General Journal we must record names of the accounts impacted and description of the transaction. This information will be used to track financial data and post it properly to the General Ledger.

 

 

 

 

 

 

 

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