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Wednesday, March 10, 2010

What is a Journal?

A Journal in bookkeeping terms, is simply a listing of transactions you have entered in the order you put them in. Most of the time the order is by date, because most bookkeeping is done chronologically. This report will basically list the date of the transaction (that you put on it), the accounts that were hit as a debit and a credit, and the amount. A journal is good to look at more in terms of looking at it comparatively to see if you missed any items. Most of the time when you do bookkeeping you are going to develop a pattern for posting items. Just make sure that each month has this same pattern going.

Next, what is a good pattern to use for entering items?

Provided by Alamo Bookkeeping Associates LLC

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