Definitions for journal entry
jour·nal en·t·ry

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1. Journal entry

   A journal entry is the act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company's debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit. The total of the debits must equal the total of the credits, or the journal entry is considered unbalanced. Journal entries can record unique items or recurring items such as depreciation or bond amortization. In accounting software, journal entries are usually entered using a separate module from accounts payable, which typically has its own subledger, that indirectly affects the general ledger. As a result, journal entries directly change the account balances on the general ledger. A properly documented journal entry consists of the correct date, amount(s) that will be debited, amount that will be credited, narration of the transaction, and unique reference number (i.e. check number).We can better understand about the journal entries through examples. In real business to record the transactions and events and recurring items, we take help of accounting example. For example, ABC company has sold 1 laptop of $ 300 in a day on cash. It is simple journal entries cash account debit $ 300 and sales of Laptop account credit $ 100 and rules have followed what comes in business debit and revenue of business must credit. If the Accountant of DEF company has to pass the journal entries of sale of Fruits, above example helps. He only focus to change name of item, measure unit of quantity and date. Rest fundamental rules of journal entries will same. If learning the rules of journal entries is the skin of anybody, to learn journal entries example is its blood to get energy all time in the body.

WikidataRate this definition:0.0 / 0 votes

1. Journal entry

   A journal entry, in accounting, is a logging of transactions into accounting journal items. The journal entry can consist of several items, each of which is either a debit or a credit. The total of the debits must equal the total of the credits or the journal entry is said to be "unbalanced". Journal entries can record unique items or recurring items such as depreciation or bond amortization. In accounting software, journal entries are usually entered using a separate module from accounts payable, which typically has its own subledger that indirectly affects the general ledger; journal entries directly change the account balances on the general ledger. Some data commonly included in journal entries are: Journal entry number; batch number; type; amount of money, name, auto-reversing; date; accounting period; and description. Typically, accounting software imposes strict limits on the number of characters in the description; a limit of about 30 characters is not uncommon. This allows all the data for a particular transaction in a journal entry to be displayed on one row. The balance sheet is a statement showing net worth on a particular date. Journal entries are used to record injections and ejections to such net worth. After recording the transactions through journal entries the revised balance sheet can be prepared.

How to pronounce journal entry?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say journal entry in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of journal entry in Chaldean Numerology is: 6

2. Pythagorean Numerology

   The numerical value of journal entry in Pythagorean Numerology is: 2

Examples of journal entry in a Sentence

1. Hoboken Mayor Dawn Zimmer:

   I stand behind my account which was corroborated by substantial additional evidence. In addition to my contemporaneous journal entry, I told six people about the conversation on the day it occurred, including a lawyer representing the City of Hoboken.

References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Journal_Entry
2. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=journal entry