What is a Journal Entry?

A journal entry is a transaction that is recorded in a business’ accounting records. Journal entries rely on the double-entry bookkeeping system.

FAQ

What is an example of a journal entry?

If John buys supplies for his business, then the supplies and cash flow have to be recorded,

for example:

Purchase:

DR – Purchases/Inventory

CR – Supplier account

Payment:

DR – Supplier account

CR - Bank account

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