View source for Book of original entry

{{infobox4
|list1=
<ul>
<li>[[General journal entry]]</li>
<li>[[Books of original entry]]</li>
<li>[[Purchase ledger]]</li>
<li>[[Sales ledger]]</li>
<li>[[Closing the accounts]]</li>
<li>[[Accounting documents]]</li>
<li>[[Income summary]]</li>
<li>[[Outstanding deposit]]</li>
<li>[[Closing balance]]</li>
</ul>
}}


'''Book of original entry''' is a chronological record of accounting transactions showing the amounts of credits and debits, names of the accounts that are credited or debited and other  useful [[information]] about the '''transactions'''. It is called a book of original entry because every [[business transaction]] is '''first''' recorded in this book. This book is prepared on the basis of source documents. Entries in this book are recorded in the first stage in contrast to '''secondary books''' where recording of entries is in the second stage ''(B.K. Banerjee 2010).''

==Journal==
More known term of book of original entry is '''journal''' which has been divided from the French word ''Jour'' which means ''day''. That is why journal means a '''day record'''. Journal is a day book because transactions in this book are recorded '''day to day''' basis as and when they take place. It gives a complete view of each transaction, that is why journal is a '''[[subsidiary]] book''' which is subordinate to the '''ledger book''' (book of secondary entry). Every transaction in the journal is followed with narration witch describes the context and nature of the transaction. [[Information]] in journal is recorded permanently and is foundation for all accounts and final accounts ''(P. Mohana Rao 2012).''

'''Source documents''' for preparing journal:
* '''coutner-foil''' of '''pay-in-slip'''
* '''cheque''' and '''cash memo'''
* '''cash receipt'''

The '''components''' of journal include '''particulars''', '''date''', '''ledger folio''', '''narration''', '''debit''' and '''credit amount'''.

'''Advantages''' of maintaining journal book ''(P. Mohana Rao 2012):''
* chances of omitting a transaction are '''reduced''' since all transactions are '''recorded chronologically'''
* understanding of real meaning of a transaction is '''easier''' because every journal is followed by a '''narration'''
* detection of '''errors''' is easy since '''double entry''' [[system]] is followed in maintaining the journal book
* '''opening''', '''compound''', '''closing''', '''rectification''', '''transfer''' and '''adjustment''' entry are done more '''precisely''' 

==Types of Journals==
'''General journal''' contains transactions which take place '''only occasionally''' and are not included in '''special journals'''. Such transactions are recorded in book known as '''journal proper''' which include such transactions as ''(B.K. Banerjee 2010)'':
* '''[[opening entries]]'''
* '''[[closing entries]]'''
* '''transfer entries'''
* '''credit purchase''' and '''sale off fixed assets'''
* '''rectification of errors'''
* '''adjustment of errors'''

While '''special journal''' can be subdivided into ''(B.K. Banerjee 2010):''
* '''cash book'''
* '''purchase day book'''
* '''sales day book'''
* '''purchase return book'''
* '''sales return book'''
* '''bills receivable book'''
* '''[[Bills Payable|bills payable]] book''' 

==Difference between books of original and final entry==
'''[[Books of original entry]]''' and '''books of secondary entry''' can be distinguished as follows ''(P.C. Tulsian, B. Tulsian 2016):''
* books of original entry are prepared on the basis of '''source documents''' while books of secondary entry are based on the '''books of original entry'''
* '''balancing''' in the books of original entry  (except '''Cash Book''') is not done while in books of secondary entry all the accounts (except '''nominal accounts''') are balanced
* [[process]] of recording entries in books of original entry is called ''journalising'' while the same process in books of secondary entry is called ''posting''

==References==
* ''Banerjee B.K. (2010). [https://books.google.pl/books?id=iqFH7Hu6kMEC&pg=PA82&dq=book+of+original+entry&hl=pl&sa=X&ved=0ahUKEwiltZTLtenhAhWBxIsKHbntB_8Q6AEIYzAI#v=onepage&q&f=false Accountantancy For Class XI], PHI Learning, New Delhi''
* ''Mohana Rao P. (2012). [https://books.google.pl/books?id=OZ2hn6xzf38C&pg=PA1&dq=book+of+original+entry&hl=pl&sa=X&ved=0ahUKEwjqtdztuenhAhVBmYsKHayWDD04ChDoAQhTMAU#v=onepage&q&f=false Fundamentals Of Accounting For CPT], PHI Learning, New Delhi''
* ''Tulsian P.C., Tulsian B. (2016). [https://books.google.pl/books?id=XDRlDwAAQBAJ&pg=SA11-PA18&dq=book+of+original+entry&hl=pl&sa=X&ved=0ahUKEwiltZTLtenhAhWBxIsKHbntB_8Q6AEIPjAD#v=onepage&q&f=false Tulsian's Financial Accounting for B.Com.], S. Chand Publishing, New Delhi''
[[Category:Controlling]]
{{a|Sebastian Kopta}}