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Format and the Information in Journal

The format of a Journal is as follows:
Journal in the books of.......
 

Date

Particulars

L.F.

Debit ( )

Credit ( )

 

 

 

 

 

Information in the Journal

  • Date: It is the date of recording the transaction. To ensure that the accounting system is functional and useful, transactions are recorded as and when they happen (on the date on which they occur). Therefore, assume that the date here is the date of the transaction and not the date of recording the transaction.
  • Particulars: Under this column, first the name of account to be debited, then the name of account to be created and lastly, the narration are entered.
  • Narration: The narration is a brief explanation of the entry. It includes certain details in relation to the transaction. The purpose of the narration is to enable anyone who reads it to get a preliminary idea of why the entry is being recorded.
  • Ledger Folio: Ledger Folio is the page number in the ledger record, where the information shown in the journal entry has been carried to. This information is distinct for each account head.
  • Debit amount:This is the amount relating to the element (account head) that is being debited. This generally is the transaction value. The amount is written in the same line as the debit entry i.e., in horizontal alignment with it. The currency related to the amount is written in the column header itself.
  • Credit amount: This is the amount relating to the element (account head) that is being credited. This generally is the transaction value. The amount is written in the same line as credit entry i.e., in horizontal alignment with it. The currency related to the amounts is written in the column header itself.





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