What is a journal in accounting?

By Zippia Team - Jan. 31, 2023

A journal in accounting is a detailed written or typed record of all the financial transactions of a business or organization.

Journals in accounting are used to reconcile accounts in the present and future and also to transfer important information to other official accounting records and documents, such as a general ledger.

A journal in accounting typically records the date of a transaction and which accounts were affected by this transaction and is generally performed by using the double-entry bookkeeping method.

Journals in the financial world can also refer to specific trading journals that give details on specific trades made by an investor and why they made them.

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