A journal is a thorough account that logs all the financial dealings of a business, to be used for forthcoming reconciliation of and moved to other formal book-keeping accounts, like the general ledger. A journal mentions the transaction date, affected accounts, and the figures, generally in a double-entry accounting method. A journal is also named the book of original entry.
Every time a business transaction occurs, an accountant records the financial transaction as a journal entry. If the expense or income affects one or more business accounts, the journal entry will detail that as well. Journaling is an essential part of objective record-keeping and allows for concise review and records-transfer later in the accounting process. Journals are often reviewed as part of a trade or audit process, along with the general ledger.
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It should be noted that the total amount debited and the amount credited should always be equal, thereby ensuring the accounting equation is maintained. |
This article is a collation of all the journals of Finance module in Ginesys HO.
- A General Journal is a point of entry of any business transactions into accounting. How To: Manage General Journal in Ginesys Web describes the process of manage General Journal.
- AR/AP Journal keep records of AR/AP Voucher transactions. How To: Manage AR/AP Journal in Ginesys Web describes the process of manage AR/AP Journal.
- Debit JournalJournal increases customer balance. This journal keep record of all debit transactions. How To: Manage Debit Journal in Ginesys Web describes the process of manage Debitebit Journal.
- Credit Journal increases customer balance. This journal keep record of all credit transactions. How To: Manage Credit Journal in Ginesys Web describes the process of manage Credit Journal.
- Document Adjustment module offers the facility to make adjustments done at various document can be viewed against a customer / party name. How To: Manage Document Adjustment in Ginesys Web describes the process of manage Document Adjustment.