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The accounting cycle. Transactions are entered into the journal as the first step in the accounting cycle. The journal is organized chronologically, that is, entries are added one after another in the order they occur. Journal entries are transferred to a ledger (posted to a ledger) as the second step. Accounting Notes, Accounting Cycle, Accounting Education, Accounting Classes, Accounting Basics, Accounting Principles, Accounting Student, Bookkeeping And Accounting, Bookkeeping Business
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Journal, daybook entries launch transactions in accounting cycle

The journal records financial transactions as they occur, making a chronological record. In this way, the journal shows all events occurring each day


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