Diary book

accounting

The journal is a document that reflects, day by day, all operations related to the activity of the company.

The journal is formed by the set of all the accounting entries of a company. So it is considered the main accounting record. This is because in it, the first record of a transaction is collected.

This is one of the accounting books that the company owns, but it is mandatory, according to the Commercial Code. Therefore, it is necessary to present it to the Mercantile Registry. On the sidelines, although it is convenient to carry out the records on a daily basis, the Commercial Code allows to record joint operations in a maximum time of one quarter; however, as long as its detail appears in other books.

Information included in the journal

The accounting entries that make up a journal must include, at a minimum, the following information:

  • Seat number.
  • Date.
  • Debt account.
  • Credit account.
  • Amount.
  • Operation concept.

It is essential that these entries contain the same amount in debit and credit. When this occurs, the seat is said to be "square."

Functions of the journal

Among the functions that this book allows, the following should be highlighted:

  • Keep an orderly accounting chronologically and with a correlative numbering.
  • Create the ledger.
  • Check the balance of the balance.

These, among others, are some of the functions of said accounting book.

Tags:  accounting history USA 

Interesting Articles

add