some important point about journal
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The word journal has been derived from the French word "Jour" Jour means day. So, journal means daily. Transactions are recorded daily in journal and hence it has named so. As soon as a transaction takes place its debit and credit aspects are analyzed and first of all recorded chronologically (in the order of their occurrence) in a book together with its short description. This book is known as journal.
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The word journal has been derived from the French word "Jour" Jour means day. So, journal means daily. Transactions are recorded daily in journal and hence it has named so. As soon as a transaction takes place its debit and credit aspects are analyzed and first of all recorded chronologically (in the order of their occurrence) in a book together with its short description. This book is known as journal.
_____________________________
❤️ I hope you mark as brainlist answer⭐❤️
Answered by
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The following are the importance of journal:-
Each transaction is recorded as soon as it takes place. So there is no possibility of any transaction being omitted from the books of account.
Since the transactions are kept recorded in journal chronologically with narration, it can be easily ascertained when and why a transaction has taken place.
For each and every transaction which of the two concerned accounts will be debited and which account credited, are clearly written in journal. So, there is no possibility of committing any mistake in writing the ledger.
Since all the details of transactions are recorded in journal, it is not necessary to repeat them in ledger. As a result ledger is kept tidy and brief.
Journal shows the complete story of a transaction in one entry.
Any mistake in ledger can be easily detected with the help of journal.
I hope it will help you ✨✨✨✨✨✌️
✨✨✨✨✨✨✨✨✨✨✨✨
The following are the importance of journal:-
Each transaction is recorded as soon as it takes place. So there is no possibility of any transaction being omitted from the books of account.
Since the transactions are kept recorded in journal chronologically with narration, it can be easily ascertained when and why a transaction has taken place.
For each and every transaction which of the two concerned accounts will be debited and which account credited, are clearly written in journal. So, there is no possibility of committing any mistake in writing the ledger.
Since all the details of transactions are recorded in journal, it is not necessary to repeat them in ledger. As a result ledger is kept tidy and brief.
Journal shows the complete story of a transaction in one entry.
Any mistake in ledger can be easily detected with the help of journal.
I hope it will help you ✨✨✨✨✨✌️
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