Preparation of journal entries
Amit Kumar (1 Points)
24 September 2022
how to prepare journal entries ?
6 Replies
Yasaswi Gomes new
(Finance )
(4545 Points)
Replied 24 September 2022
Based on the three golden rules.
Income statment has all nominal accounts
Balance sheet has all real and personal accounts.
In the books of original entry, all transaction are recorded in a line but the amounts are posted to debit or credit.
From there these transactions are transferred to individual ledgers. The above one is called a jgeneral journal and this one comes into general ledgering.
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 24 September 2022
For what purposes and what is the situation?
sabyasachi mukherjee
(27870 Points)
Replied 25 September 2022
Games, journal entries are passed on the basis of transactions. These are posted to ledger . closing entries are essential which are essential.
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 25 September 2022
There will be journal voucher and you may pass the entries as part of finalization of accounts or closure of books of accounts
Yasaswi Gomes new
(Finance )
(4545 Points)
Replied 25 September 2022
That is what I meant. Followed a counting cycle/process
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