Recording an accounting entry

An accounting entry is saved in a document called an accounting journal. For best training Best school of accountancy In Lahore. In practice, there is usually a centralized journal that groups together different auxiliary journals (they are created at the choice of the company and especially according to its needs). Here are the ones that are generally open:

The purchasing log grouping the records of purchase invoices,

The sales journal gathering records of sales invoices,

The bank journal, which contains the records of bank statements,

The cash journal containing the cash register records (cash in particular),

The payroll, which contains records of payroll records,

The journal of miscellaneous transactions gathering the registrations of VAT returns, inventory entries and other regularization entries .

When the company uses accounting software , its logs are dematerialized and managed automatically. They are automatically compiled and centralized in the general journal. For more information on how to register: how to write a book entry ?

Conclusion : an accounting entry is an operation whose objective is to translate a flow on the monetary plane into the accounts of a company. Particular attention must be paid to this since it has a direct impact on the quality of the financial information produced.