COMMERCE 1BA3 Chapter Notes - Chapter 6: Point Of Sale, Transaction Log, British Association For Immediate Care
12 Sep 2012
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Document Summary
The journal is a book where accounting entries for transactions are first recorded before ledger. Accounting entries in a journal are called journal entries and are recorded separately in chronological order. Journal breakdown date, particular, posting reference, debits, credits. Date year: once per page at top; posted again only if change in year occurs. Date month: once per page at top; posted again only if change in month occurs. Date date: at every transaction, even if repeated. 3 enter credit amount and particular (indent credit particular) Accounting clerk collects data from source documents and organizes them into a journal for readability. A proper job done at this stage, can reduce accounting errors. The journal is useful for references to verify transactions and when checking mistakes. Opening entry sets of financial position of a business on the first page of journal. Source document are documents which show nature of transaction and gives info to account it properly.
