Journal in accounting

 INTRODUCTION OF ACCOUNTING JOURNAL: In a running business large number of transaction done in money and without money. Businessman involves so many activities of business in a day. It is not possible for them to remember each activities. Therefore they record the transactions in the Journal book. Journal Book has each records of business transaction, every kind of transactions. Journal Books is also know as Original Book. Recording of transaction in Journal have a systematic way, a proper format have to follow for recording.

MEANING: JOURNAL
The word "Journal" is derived from the French word "Jour" which means a "Day". Thus in Journal day-to-day transactions are records. Daily transactions recorded according to the date of transactions so, that the identification of transaction is easier.

How to record Journal Entry in Journal.
To record entries in accounting we have to make formats. Formats or Specimen or Proforms are necessary to make without this accounting is not done.

So coming to the topic, format of Journal in accounting is below:

DATE

PARTICULARS

L/F

DEBIT

CREDIT

Explantion of format:
1. Date: Date is the first column where the date of transaction we have to write. Date is written as dd/mm/yyyy.

2. Particulars: Particulars is column where we will write the transaction in accounting way. We will letter on see how to pass journal entry.

3. Ledger folio number: ledger folio is a ledger number of ledger.

4. Debit Amount: debit amount is where we write debit amount. In passing journal entry you will get what is debit amount.

5. Credit Amount: in credit amount column we write credit amount.


Rule for passing Journal Entry
Personal Account:
Debit the Receiver
Credit the Giver

Real Account:
Debit what comes In
Credit what goes Out

Nominal Account:
Debit all expenses and losses
Credit all Income and Gain.
This are the rules for passing the journal entries there are others ways to pass. If you want other ways comment.


How to pass journal entry in Journal Book

Steps for journalising the transaction
1. Read the transaction and identify in which Account it will go.
2. After identifying account apply the accounting rule of debit and credit.
3. Then write the date of transaction in date column.
4. In particulars write according to rule says. Remember debit always on first line and credit on second line. Debit is Dr. write in side
5. Write the amount in debit and credit column the debit credit amount should be always equal. And then write the narration of transaction in particulars

For better understanding this are some solved practical problems

Journalise the following transaction in the books of Anand General Merchants.

Journalise the following transaction in the books of Gajanan.

Journalise the following transaction in the books of Ashok General Stores.

Journalise the following transaction in the books of Sanjay General Stores.

Journalise the following transaction in the books of Kunal Stores.

Journalise the following transaction in the books of Nita General Stores.

Journalise the following transaction in the books of Varun.

Journalise the following transaction in the books of Dhoni Auto Car Centre.

Journalise the following transaction in the books of Hero Enterprises.

Journalise the following transaction in the books of Harbhajan & Co. For the month of 1st April 2019.

Important in Accounting Must read
Discounts in Accounting
Trade Discount
Cash Discount