Financial Terms “J”

Financial Terms Dictionary



A journal is where financial transactions are first recorded in chronological order. Each transaction is called a journal entry. The journal is called the book of original entry. Journal entries are later posted to the ledger.

Journal Entry

A journal entry is recording a business transaction in a company’s accounting records. A list of journal entries is called a journal. In accounting, journal entries are made using a system of debits and credits. In each journal entry, debits must equal credits.

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