Which is the book of original entry in Accounting? Why is it called the book of original entry?
Answers
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Books of original entry refers to the accounting journals in which business transactions are initially recorded. The information in these books is then summarized and posted into a general ledger, from which financial statements are produced.
Hope this will help you!
Books of original entry actually refer to some accounting journals in that business transaction is recorded initially.
The overall information in these books is after that summarized as well as posted into the general ledger. It is the place from that financial statements are successfully produced.
Every accounting journal includes the detailed records for certain types of accounting transactions actually pertaining to a particular area.