Examples of General Journals and Their Definitions

The general ledger is an important component of accounting. That is why general journals are no stranger to accountants. Examples of general accounting journals themselves such as general journals of trading companies, services, and so on are very important for accountants to learn. The reason is, it is used to provide detailed financial transaction reports to the company.

In the example of a general journal, there are detailed transactions starting from the transaction name, date, amount, and other information that is generally needed in the company's financial statements. Meanwhile, in making it, you need several provisions and steps that must be completed coherently.

Starting from basic provisions, basic equations to the accounting cycle. Now for the steps themselves you can pay attention to the review below.

Understanding and How to Make a General Journal

The definition of a general journal is a journal used to record all types of financial transaction evidence that arise due to various kinds of company financial transactions in a specified period.

The function of the general journal is to place all financial transactions of the company in a certain period which are carried out systematically and chronologically. Thus, an examination related to financial transactions carried out by the company can be carried out in detail through the example of a general journal that is compiled.

In addition, making general journals or journaling also has other purposes such as the purpose of assessing, identifying, and recording the economic impact caused by a transaction or several other transactions in the company. In addition, it aims to obtain convenience in the process of transferring the impact of the transaction mentioned earlier into an account that is adjusted to the company's transactions.

Thus, it is not surprising that you can find these forms of transactions in various kinds of journal examples including general accounting journal examples. Meanwhile, here are the steps in making a general journal or journaling manually that you can learn and practice.

1. Understand the accounting equation first

The first step that you must learn in making general journals, including one of them is in the example of a general journal of a manufacturing company that is currently undergoing development, is to understand the basic accounting equation. The basic equation of accounting itself is assets = debt + capital. then expanded with assets = debt + capital + in brackets (income - expenses).

2. Collect transaction evidence

In the examples of general and special journals, you will be presented with transaction data that needs to be collected. Transaction evidence itself is an important basis for recording a transaction in an accounting journal. The reason is, if there is no proof of the transaction, then no recording can be made in the general journal.

Thus, in every example of a general journal, of course, it also involves proof of transactions that will later be recorded in the journal. while for the types of journals such as invoices, receipts, invoices, notes and so on.

3. Identify transactions made

Transaction identification must be done because not all transactions can be recorded. Transactions that can be recorded are transactions that cause changes in financial position and can be valued in monetary units.

Thus, you must identify transactions followed by determining their effect on the company's financial position. Meanwhile, the equation used is assets = debt + capital.

General Journal Problem Examples and Discussion

If you want to see the form of a general journal, you can pay attention to examples of general journals of trading companies, examples of general journals of service companies, and others in the company. Regarding the example of the question, you can pay attention to the discussion below.

Imagine that you are an accountant at Maju Jaya Company. at the end of September, you get transaction data with the following details.

On the 2nd, the company bought goods in cash from Jaya Abadi to increase the stock inventory in the warehouse worth Rp 45,000,000. On the 4th, because the goods were not as ordered, the company returned the purchased goods worth Rp 3,900,000. Furthermore, on the 5th, there was a transaction to sell goods in cash to Toko Mulia worth Rp 7,000,000. Then, on the 7th, there was a return transaction on credit to Toko Sinar Emas worth Rp 10,000,000.

The general journal example problem you want to work on continues with a company that increases its stock of goods on the 9th with a credit purchase from Jaya Abadi company worth Rp 20,000,000. Furthermore, on the 11th, there was a cash sale transaction worth Rp 30,000,000 to Elektro Bagus shop. Followed by Toko Mulia who returned goods not in accordance with the order worth Rp 1,500,000 on the 13th. Meanwhile, on the 15th the company paid installments of debt to the Jaya Abadi company worth Rp 10,000,000.

Repayment occurred on the 17th from Sinar Emas store worth Rp 20,000,000. There was a resale transaction with Toko Kriuk worth Rp 25,000,000 with a transportation fee of Rp 500,000. Meanwhile, on the 23rd the company purchased goods in cash for capital stock to Mosiku company worth Rp 40,000,000 with transportation costs of Rp 1,000,000.

The return transaction occurred on the 27th to Toko Baru Jaya worth Rp 30,000,000. Meanwhile, the New Jaya store returned merchandise that did not fit the order for Rp 7,000,000 on the 29th.

Based on the data above, you can make an example of a company's general journal with the steps as mentioned, starting from looking at each transaction that occurs with the date at once, then writing the transaction into a general journal using the physical method, ending with the amount of the debit balance and credit balance.

Thus, it will produce the answer in the general journal table as follows.

After that, the general journal example that you have compiled and successfully balanced or balanced, then posted to the ledger. Meanwhile, how to move transactions that have been analyzed from the general journal to the ledger needs to be done through several stages.

Namely, starting from recording the transaction date and the amount to be debited or credited into the appropriate account, filling in the reference column with the account information of the journal page number, and filling in the reference column in the journal using the relevant account.  In the ledger that you create, commonly used account forms such as T-forms, 2-column accounts, 3-column accounts, and 4-column accounts.

Cover

Well, the examples of general journals and ledgers that you have made can be used as company assets in terms of transactions in a certain period. Thus, the financial statements through the journals made can already be accounted for.

That's the discussion related to the example of a general journal complete with understanding to questions and discussions. Don't forget to visit our main page to get other interesting information. If you want to make a journal completely and easily, use SAP Business One is one of the programs that has been widely used by large companies. Hopefully useful.

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