The journal.

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Presentation transcript:

The journal

The Journal is an accounting diary The Journal is an accounting diary. It is used to make a note of accounting transactions. Postings are made from the journal to the double-entry ledger. The journal is not part of the double-entry system.

The journal can be used to record the following transactions: Adjustments Capital introduced Purchase of fixed assets Bad debts Errors.

2 December: purchased a motor van for £6000, paying by cheque. Journal Dr Cr £ £ Motor van 6000 Bank 6000 Being the purchase of a motor van for £6000 on 2 December.