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What is Journal?

Accounting & finance for Banking

JAIIB Exam Study Material: What is Journal?

Definition of a Journal
In accounting and bookkeeping, a journal is a record of financial transactions in order by date. Traditionally, a journal has been defined as the book of original entry. The definition was more appropriate when transactions were written in a journal prior to manually posting them to the accounts in the general ledger or subsidiary ledger.

Examples of Journals in a Manual Accounting System
Manual systems usually had a variety of journals such as a sales journal, purchases journal, cash receipts journal, cash disbursements journal, and a general journal.

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