Recording Transactions in Your Journal
Transactions in Your Journal
A journal is a written record of personal events and thoughts, usually related to daily activities undertaken with a particular person or topic. A journal is much more than a recorder of phone conversations; it is a chronicle of one’s life. The act of making and preserving journal entries is known as journalling. Journalling helps us to clarify our reflections on our lives by bringing it to light in a meaningful way that reveals to us our attitudes and actions over time.
The creation of journal entries commenced as early as the twelfth century with the first recorded journal entries from Luca Pacioli, a merchant who recorded his travels in the fourteenth century. Journaling developed over the centuries with the aid of different types of devices including ledgers, tablets and ledgers. In modern times, most people record their daily lives in computerized journals using word processors. This form of journaling has several advantages including the ability to retrieve previously stored data, the ability to update the entries on a regular basis and to store them indefinitely on an online service.
When you begin a new journal entry, you can select a date and write as much or as little detail about that entry as you choose. The journal entries will then be available for download from that date. You may choose to download the entries as a PDF file, or a soft copy that can be read on virtually any computer. You may also want to create a password to set the entry as “protected” so that only people involved in the accounting process will have access to it. Your password would be a string of numbers or letters that the user can remember but will not automatically enter into the accounting software.
Recording Transactions in Your Journal
A journal entry is created when you use one or more of the tools that are available to create a record. Among these tools are a journal entry writer, a proof reader, and a reference number generator. The journal entry writer is a tool that is used to make entries on a computer. (The journal entry writer is sometimes referred to as a tape recorder or a digital recorder because it records the events as they happen.) When the user needs to make a correction or change something in a particular entry, he can simply select a proof reader to read the document and make the necessary changes.
A reference number generator is another tool that is used to record the events in a journal entry. A reference number generator creates a series of unique account numbers for use in recording the transactions and transfers. ( Accounts numbers are typically referred to as account number 1 through number 9.)
A journal entry must be kept for a specific period of time, which is referred to as a journal entry log. If these rules are followed, the entries can be retrieved for review anytime an individual needs to review the records. If an individual should abandon his or her journal and destroy the computer printouts, however, there are legal issues that could arise if the records are not recoverable. Therefore, it is important to follow the various guidelines in this Guide to Recordkeeping to make sure the proper procedures are followed to ensure the security of the files and records.