The-definition.com

Definition

Journalizing

Entering transaction data in the journal is known as journalizing. Companies make separate journal entries for each transaction. A complete entry consists of (1) the date of the transaction, (2) the accounts and amounts to be debited and credited and (3) a brief explanation of the transaction.

Webster Dictionary Meaning

1. Journalizing
- of Journalize
Share it:  Cite

More from this Section

  • Chain store
    Chain store refers one of two or more similar stores owned by the same company, usually ...
  • Payroll deductions
    Payroll deductions refer to deductions form gross earnings to determine the amount of ...
  • Depreciation & Accumulated depreciation
    Depreciation is the process of allocating the cost of an asset to expense over its useful ...
  • Sales revenue
    The primary source of revenues for merchandising companies is the sale of merchandise, ...
  • Process cost system
    Process cost system is a system of accounting used when a large quantity of similar products ...