What is the Meaning & Definition of journal

At the behest of the accounting, the journal, is that accounting book in which are entered every day all the economic events of a company, i.e., all transactions that are carried out, and always following a chronological order. Meanwhile, each event will involve a notation that is formally designated as posting or accounting prompt. Always that seat will involve a change in regard to the assets of a company and as a result will involve a concrete movement in their accounts. In the so-called system of double-entry which is the most used for this book record type, each seat will be composed of two touchdowns, on the one hand the must and the other have. It should be noted that both made the opposite movements and that they will therefore affect the liability or asset. Now is impossible following this system which is written down something in the must and the failure always shall be dispatched variations that either generate in its counterpart to thus ensure the accounting balance of the enterprise in question. The must and the having of a seat with different amounts can never be. Always in a seat the amounts recorded in the must and the amounts that are posted to the credit must be equal. Because but are entered properly dislocation that would be generating obviously then make not give accounts correctly. With an example we'll see clearer, if you buy a good going to intervene count charge, instead of the must buy that property and also payment to the credit account, because you will create an obligation of good that was purchased. The frequent economic events which are situated in this book include: a purchase, payment, a fee, a sale, provision, income or expenditure, among others. It should be noted that the accounts of a company will allow to themselves and others meet certain solvency and economic capacity that has the same. That is of vital importance that every financial and economic step is stated as so.