Accounting 101 Types of Journals and Journal Entry Examples

Find the most common type of bookkeeping journals. Great book with journal entries (GL) of describes how to verify the account relationships.

Is used between the accounting journal book buy, sell, and to record all financial transactions of any business. In most companies, today world computer but log entries automatically. To understand the basic principles of accounting, it is important to know the manual entry of newspaper work. A basic understanding of debits and credits is required before the reader documentation for learning.

Types of accounting journal

Is any “book” containing the origins of the financial transactions of daily newspapers in New York State Society of Cpa’s entry. Given the book used for most companies, is the most common types of financial transactions. Depends on the business models of various types are used. There is the most common type of journals using

  • Cash receipts journal
  • Payment journal
  • Sales journal
  • Purchase journals.
  • General Journal.

Using transactions for sales journal entries

Most of the entries of the sales used two books that receipts journal, sales journal is generally. Account opening and service sales product sales journal. It is still used two main general book sales and accounts receivable (AR). Inventory and account interoperability, cost of sales, sales tax, freight is depending on the business model other GL accounts also available.

Sales log entry example

  • Charge 12-05 company Brown, 123-AR sales of $ 100, $ 100 credit flow
  • 12-05 Green Inc., 124-flow AR $ 250 Bill is a $ 250 credit card sales
  • 12-05 Clausen, Bill 125-flow AR 175, 175 $ credit card sales

Payment in cash receipts in cash for goods and services, termination of accounts receivable, and other using the cash receipts journal. Use strictly dealing with normal cash retail sales journal. Include cash, accounts receivable sales are the most common GL accounts to use the cash receipts journal.

Example of cash log entries received

  • Spot on January 5th, 198-flow of cash sales invoices of $ 25, $ 25 credit
  • 1-05 Company paid Brown $ 100 credit of AR $ 100 cash flow’s
  • Spot 1-05, 201-selling invoice sales credit of $ 50, $ 50 cash flow

Log entries for the purchases and cash payments

Products purchased open account you purchase is used. Consider using to open the account of the book purchase and affects each transaction accounts payable (AP). Compensation for common GL accounts are made generally purchase another column to the transaction. AP column next to the inventory and expense accounts to other common GL columns can have.

Examples of entries in the purchase journal

  • AP credit inventory flow invoice 3945 $ 800-$ 800, ABC Corporation 12-05
  • Fast 12-05 deliveries, 432-claim the cost of freight of $ 100, $ 100 AP credit debit card
  • Bill 980-costs for debit $ 75, $ 75 for AP credit co., Ltd. Office 12-05

Is the cash payment journal send cash transactions. The most common account GL for this book out of cash is generally payable. Most businesses are cash, accounts payable, and various columns. In some cases cash payment journal as double check registration

Example of a cash payment entry

  • 1-05 ABC-$ 800 AP’s the credit of the cash flow of $ 800.
  • Quick navigation ap communications 3-$ 100, $ 100 cash credit debit
  • 1-5 Office staff co., Ltd.-AP $ 75, $ 75 credit cash flow
  • 1-05 Product-the fantasy stock bits of cash of $ 200, $ Shin de sit.
  • 1-05 Plumber Joe flow maintenance, cash of $ 150 credit-$ 150 construction

Financial transactions and uses no other journal, the appropriate sheet. Detailed descriptions with the sheet, should be that all financial transactions. Also used if the leaves are adjusting entries are made at the end of the accounting period.