journar entry format
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A journer entry format is used to record debit and credit sides of a transaction in the accounting records. It is used in a double entry accounting system, where both a debit and a credit are needed to complete each entry. The essential elements of the journal entry format are as follows :
1. A header line may include a journal entry number and entry date. The number is used to index the journal entry, so that it can be properly stored and retrieved from storage.
2. The first column includes the account number and account name into which the entry is recorded. This field is indented if it is for the account being credited.
3. The second column contains the debit amount to be entered.
4. The third column contains the credit amount to be entered.
5. A footer line may also include a brief description of the reason for the entry. An entry in the footer line is highly recommended, since there are so many journal entries that is easy to forget why each entry was made.
Thus, the basic journel entry format is :
Debit. Credit
Account name or number $xx, xxx
Account name or number. $xx, xxx
The structural rules of a journel entry are that there must be a minimum of two line items in the entry, and that the total amount entered in the debit column equals the total amount entered in the credit column.
1. A header line may include a journal entry number and entry date. The number is used to index the journal entry, so that it can be properly stored and retrieved from storage.
2. The first column includes the account number and account name into which the entry is recorded. This field is indented if it is for the account being credited.
3. The second column contains the debit amount to be entered.
4. The third column contains the credit amount to be entered.
5. A footer line may also include a brief description of the reason for the entry. An entry in the footer line is highly recommended, since there are so many journal entries that is easy to forget why each entry was made.
Thus, the basic journel entry format is :
Debit. Credit
Account name or number $xx, xxx
Account name or number. $xx, xxx
The structural rules of a journel entry are that there must be a minimum of two line items in the entry, and that the total amount entered in the debit column equals the total amount entered in the credit column.
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