All companies need to have financial statements to showcase the status of their businesses. Related to the financial statement is the journal entry which is a recording of all input and output of financial transactions of the business operations.
A simple journal can be used to record the monies flowing into the business in the credit column with the monies flowing out of the business in the debit column. These would be transferred into the corresponding financial statements to reflect the overall standing of the company’s financial capacity.
A general journal template is a useful tool whereby the user can easily enter the necessary transactions in the debit or credit columns with a description of the transaction and the reference for each transaction together with the transaction date. The template can be used again and again for different financial terms or months depending on the company’s accounting policies.
A general journal template has the following columns of information:
* Company’s Name & Address
* Financial Year of Company
* Date of Journal
* Item Number
* Description of item
The general journal template is very simple even for new accounting clerks to handle. Entries made can be stored and retrieved securely and quickly. Many entries can be made depending on the available disk space.
You can compare the previous journal entries to track the performance of the company when copies are electronically stored.
Consider the attached sample template for your convenience.