Difference between pages "General Journal" and "General Ledger"

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General Journal - All the financial transactions are recorded in chronological order where each transaction affects at least two accounts, and they must balance
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''' <span style="color: red"> In Progress'''
  
'''Note:''' each entry must only contain one single transaction (source document)
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The General Ledger is the complete record of all the financial transactions of the business through its life.
  
====Examples: Not Registered for GST====
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The general ledger is then organised into a [[Chart of Accounts]] to enable the creation of financial statements.
 
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1. Shopping trip to The Office Depot - Purchased a stapler (cash/eftpos)
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{| class="wikitable" style="width: 50%;"
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!colspan="4"|General Journal Example (Simple)
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|-
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|'''Date'''
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|'''Account'''
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|'''Debit'''
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|'''Credit'''
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|-
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|June 30
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|Stationery
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| style="text-align:right;" | 1,100
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|
+
|-
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|
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| style="text-align:center;" | Cash At Bank
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|
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| style="text-align:right;" | 1,100
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|-
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|
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|For the purchase of a really nice stapler
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|
+
|
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|}
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<br>
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2. Shopping trip to The Office Depot - Purchased a stapler and some water for the staff room (cash/eftpos)
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{| class="wikitable" style="width: 50%;"
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!colspan="4"|General Journal Example (Less Simple)
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|-
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|'''Date'''
+
|'''Account'''
+
|'''Debit'''
+
|'''Credit'''
+
|-
+
|June 30
+
|Stationery
+
| style="text-align:right;" | 1,100
+
|
+
|-
+
|
+
|Staff Amenities
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| style="text-align:right;" | 200
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|
+
|-
+
|
+
| style="text-align:center;" | Cash At Bank
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|
+
| style="text-align:right;" | 1,300
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|-
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|
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|For the purchase of a really nice stapler and water
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|
+
|
+
|}
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<br>
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3. Shopping trip to <br>The Office Depot - Purchased a stapler and some sugar for the staff room (cash/eftpos)<br>The Techno Junkies - Purchased a new cable (on account)
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{| class="wikitable" style="width: 50%;"
+
!colspan="4"|General Journal Example (Less Simple)
+
|-
+
|'''Date'''
+
|'''Account'''
+
|'''Debit'''
+
|'''Credit'''
+
|-
+
|June 30
+
|Stationery
+
| style="text-align:right;" | 1,100
+
|
+
|-
+
|
+
|Staff Amenities
+
| style="text-align:right;" | 200
+
|
+
|-
+
|
+
| style="text-align:center;" | Cash At Bank
+
|
+
| style="text-align:right;" | 1,300
+
|-
+
|
+
|For the purchase of a really nice stapler and water
+
|
+
|
+
|-
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|June 30
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|Computer Expense
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| style="text-align:right;" | 440
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|
+
|-
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|
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|style="text-align:center;" | Accounts Payable
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|
+
| style="text-align:right;" | 440
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|-
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|
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|New computer cable
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|
+
|
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|}
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====Examples: Registered for GST==== ''' <span style="color: red"> In Progress'''<br>
+
1. Shopping trip to The Office Depot - Purchased a stapler (cash/eftpos)
+
 
+
{| class="wikitable" style="width: 50%;"
+
!colspan="4"|General Journal Example (Simple)
+
|-
+
|'''Date'''
+
|'''Account'''
+
|'''Debit'''
+
|'''Credit'''
+
|-
+
|June 30
+
|Stationery
+
| style="text-align:right;" | 1,100
+
|
+
|-
+
|
+
| style="text-align:center;" | Cash At Bank
+
|
+
| style="text-align:right;" | 1,100
+
|-
+
|
+
|For the purchase of a really nice stapler
+
|
+
|
+
|}
+
<br>
+
2. Shopping trip to The Office Depot - Purchased a stapler and some water for the staff room (cash/eftpos)
+
{| class="wikitable" style="width: 50%;"
+
!colspan="4"|General Journal Example (Less Simple)
+
|-
+
|'''Date'''
+
|'''Account'''
+
|'''Debit'''
+
|'''Credit'''
+
|-
+
|June 30
+
|Stationery
+
| style="text-align:right;" | 1,100
+
|
+
|-
+
|
+
|Staff Amenities
+
| style="text-align:right;" | 200
+
|
+
|-
+
|
+
|GST Payable
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| style="text-align:right;" | 100
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|
+
|-
+
|
+
| style="text-align:center;" | Cash At Bank
+
|
+
| style="text-align:right;" | 1,300
+
|-
+
|
+
|For the purchase of a really nice stapler and water
+
|
+
|
+
|}
+
<br>
+
3. Shopping trip to <br>The Office Depot - Purchased a stapler and some sugar for the staff room (cash/eftpos)<br>The Techno Junkies - Purchased a new cable (on account)
+
{| class="wikitable" style="width: 50%;"
+
!colspan="4"|General Journal Example (Less Simple)
+
|-
+
|'''Date'''
+
|'''Account'''
+
|'''Debit'''
+
|'''Credit'''
+
|-
+
|June 30
+
|Stationery
+
| style="text-align:right;" | 1,100
+
|
+
|-
+
|
+
|Staff Amenities
+
| style="text-align:right;" | 200
+
|
+
|-
+
|
+
| style="text-align:center;" | Cash At Bank
+
|
+
| style="text-align:right;" | 1,300
+
|-
+
|
+
|For the purchase of a really nice stapler and water
+
|
+
|
+
|-
+
|June 30
+
|Computer Expense
+
| style="text-align:right;" | 440
+
|
+
|-
+
|
+
|style="text-align:center;" | Accounts Payable
+
|
+
| style="text-align:right;" | 440
+
|-
+
|
+
|New computer cable
+
|
+
|
+
|}
+

Latest revision as of 06:05, 15 November 2018

In Progress

The General Ledger is the complete record of all the financial transactions of the business through its life.

The general ledger is then organised into a Chart of Accounts to enable the creation of financial statements.