Give features of journal
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- Chronological: The journal entries are to be recorded in a date-wise sequence or order in which the transactions happen.
- Daybook: The journal is a daybook which records everyday transactions
- Double Entry System: It is a dual entry system where every transaction is equally entered on both debit and credit sides. That is, one account is debited, and the other is credited for the same value.
- Assistant to Ledger: Journal entries serve as the base for all the other books of account like ledger since it is prepared from the information disclosed in the journals.
- Original Entry: The journal is the first books of account where a transaction is recorded, and therefore, its originality and authenticity can be maintained.
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