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Course Content


A journal entry is normally recorded in the general ledger, but it can also be recorded in a subsidiary ledger and then rolled forward into the general ledger. The financial statements for the company are then created using the general ledger.

The date, the amount of the debit and credit, the titles of the accounts being debited and credited (with the title of the credited account indented), and a brief explanation of why the journal entry is being recorded are all included in each journal entry.

The goal of a journal entry is to carefully and accurately document every business transaction, whether physically or online. If a transaction has an impact on numerous accounts, the journal entry will provide that information.

Standard Journal Entries are used to record entries that have the same general ledger account numbers but will be filed with different amounts each time. Payroll Accrual is a good example. TO MAKE A STANDARD JOURNAL ENTRY, FOLLOW THESE INSTRUCTIONS: Select General Journal Entry from the General Ledger Main menu.

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