The simplest and most flexible type of journal.
In financial accounting the general journal is used for any entries that are not suitable for the other journals (Cash Receipts, Cash Payments, Purchases and Sales Journals). Generally these are: Adjustment of errors, closing of nominal accounts, opening a new set of books, interest and overdue accounts, depreciation of non-current assets, purchase and sale of assets on credit, writing-off of bad and doubtful debts, withdrawal of goods for private use
A journal for recording transactions that are infrequent or unusual, such as depreciation and adjustments to accounts. Contrasted with frequent entries, such as sales, that are entered in a Sales journal. See also journal and adjusting journal entries.
A book of original entry that requires that both the account being debited and the account being credited be listed along with the respective amounts. Because of accounting software and special journals there are relatively few entries made into the general journal. To Top
A GJ is a manual entry to the General Ledger. (JV in Cost)
The journal in which all entries not recorded in special journals are recorded.
A journal in which are recorded all entries not recorded in special journals.
A two column journal, where transactions have been recorded as debits and credits.
this is a book of original entries, in which all transactions are entered chronologically, for which no deposits were made nor any checks written. Typically, these entries include transactions that appear on bank statements, such as interest earned or bank charges. The journal is also used for reclassification of entries from one account to another.
The book of first entry for all transactions of a business enterprise are summarized.
Journal in which transactions are recorded for which specific journals are not provided (for example, adjustments and corrections). In a small operation the general journal may be the only book of original entry.
A book of original entry in a double-entry system. The journal lists transactions and indicates accounts to which they are posted. The general journal includes all transactions not included in specialized journals used for cash receipts, cash disbursements, and other common transactions.
The journal in which are recorded transactions not provided for in specialized journals.
The record used for recording business transactions not recorded in specific journals.
The general journal is a book of original entry where double entry bookkeeping entries are recorded by debiting one account and crediting another account with the same amount. The amount debited and the amount credited should always be equal.