What Are Books of Original Entry
Why is Journal Called A Book of Original Entry? Books of Original Entry or Primary E ntry or First Entry are called Journals where all Business Transactions are firstly or initially recorded ( Journalized ) chronologically or date-wise with the help of Source Document such as invoice or voucher. Basically, it is a recording phase of Bookkeeping where daily transactions are recorded in Special Journal and transactions that often takes place are recorded in General Journal. Different Types of Books of Original Entry Examples are Cash Jour nal or Cash Book , Sales Jour nal, Purchase Journal, Sales Returns Journal, Purchases Returns Journal, Petty Cash Book, General Journal, etc. You Can Also Study, “ What Are Books of Final Entry “ Books of Original Entry are the initial Steps in the Accounting Cycle . From these Books of Accounts , Financial Statements are Prepared that are reported to All of ...