The General Journal, often regarded as the book of original entry, is a pivotal element in the accounting process. It is where all financial transactions are initially recorded before they are posted to the ledger accounts. The General Journal includes straightforward and complex entries and serves numerous accounting purposes.
A journal entry is the act of recording a transaction in an accounting journal, such as the general journal. It ensures that financial transactions are accurately captured and balanced, reflecting the debits and credits involved.
In accounting, to journalize means to record financial transactions in a journal, such as the general journal, as a part of the accounting process.
