What is jounral ? And its chracteristic
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JOURNALS : many Publication issued at stated intervals , such as academic journals (including scientific journals), or the record of the transaction of a society are often called journals .
CHARACTERISTICS : it is a book of original entry because transaction is recorded as first stage in this book .
it is the first step in the recording process of double entry system of book keeping .
it is also known as a day book aur diary because transactions are recorded in it on day to day basis as and when they take place .
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CHARACTERISTICS : it is a book of original entry because transaction is recorded as first stage in this book .
it is the first step in the recording process of double entry system of book keeping .
it is also known as a day book aur diary because transactions are recorded in it on day to day basis as and when they take place .
hello friend !!!
sorry for late ...
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A JOURNAL has several related meanings, a record of events and Business, a private journal is usually referred to as diary. the word "journal" has been derived from the French word "jour" . jour means day. So journal means daily.
CHARACTERISTICS OF JOURNAL
1. A journal is called original entry as transaction has recorded first of all in the journal.
2. A transaction is recorded on the same day it takes place. So, journal is called day book.
3. Transactions are recorded chronologically, So journal is called chronological book.
4. For each transaction the names of the two concerned accounts indicating which is debited and which is credited, are clearly written in two consecutive lines.
5. Narration is written below each entry.
6. The amount is written in last two columns - debit amount in debit column and credit amount in credit column.
CHARACTERISTICS OF JOURNAL
1. A journal is called original entry as transaction has recorded first of all in the journal.
2. A transaction is recorded on the same day it takes place. So, journal is called day book.
3. Transactions are recorded chronologically, So journal is called chronological book.
4. For each transaction the names of the two concerned accounts indicating which is debited and which is credited, are clearly written in two consecutive lines.
5. Narration is written below each entry.
6. The amount is written in last two columns - debit amount in debit column and credit amount in credit column.
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