Journal

Journal

Journal is the word of the French language derived from ur, which means the diary. The journal is actually the book of the original entry in which the primary account of both aspects of business transactions (economics debit and credit) is recorded in that order in which it was completed, i.e. recorded as per order date. Whenever a transaction is completed, it is recorded directly in this box and both are arranged systematically in order to complete the aspects of the transaction.

The journal is known as the book of the book or the primary entry of the book, because all the transactions and incidents are first recorded in this book. Process of recording transactions and incidents in the journal is called journalising. The format of the journal is in accordance with the format given below.

There are five columns in the journal format.

1. Date: -The date is written in the first column.

2. Particular: -The details of transactions in this column are given. Both sides of the transaction are recorded on the debit side and credit side.

3. Ledger Folio number: -Folios means the page number of the laser. Firstly, business transactions are recorded in the journal and later they are posted to the laser. Under this column, the page number of the laser is inserted where the transaction is recorded.

4. Amount: -This column records the amount to be debited from the account that has been debited.

5. Amount (Credit): - In this column, the amount credited to the account is recorded which has been credited.