Beruflich Dokumente
Kultur Dokumente
Meaning of Journal:
The term journal is derived from the French word jour which
means a day. Journal therefore, means a day book or a daily
record. It is the book wherein all the transactions are first
recorded in the order. It is the book wherein all the transactions
are first recorded in the order of dates i.e., as and when they take
place.
The act of recording a transaction in the journal (i.e. the process
of making an entry in the journal) is called journalizing. The record
of a transaction in the journal is called journal entry.
Features of journal:
1. The journal is a book of prime, original or first entry, as all
business transactions are first recorded in the journal.
2. Journal can be regarded as the queen of books of accounts,
subordinate to the king of books of account viz.ledger
3. The journal analyses the various transactions into their
debits and credits so that they could be easily posted to the
ledger accounts. In other words, the journal is helpful in the
preparation of accounts in the ledger. It is for this reason
that the journal is called the gateway to the ledger.
Advantages of journal:
1. The journal provides the chronological(date-wise)record of all
the business transactions
2. As the business transactions are recorded in the journal in
chronological order the journal facilitates quick and easy
reference to any transaction.