Journal Example: Definition, Functions and Types of Accounting Journals

Account Normal Balance Table

Account name	debit	Credit	Normal Balance
Assets (properties/assets)	+	–	debit
Debt (liability)	–	+	Credit
Capital	–	+	Credit
Income	–	+	Credit
Burden	+	–	debit

Example of a general journal: for example, on February 7, 2020 the Pikachu Shop purchased office equipment and supplies for IDR 10,000,000 and IDR 5,000,000 respectively, then the general journal is as follows:

General ledger

Date	Information	Ref.	Debit	Credit
1 Feb 2019	Equipment gear. Cash	10.000.0005.000.000	15.000.000
TOTAL	15.000.000	15.000.000

• Special Journal

Is a journal that is grouped specifically according to the type of transaction. This special daily is grouped because of its frequent transactions every month. There are 4 types, namely:

• purchases, used to record all purchases of goods/products or services on credit.
• sales, to record sales transactions on credit.
• cash receipts, serves to record all transactions receiving money from various sources of income, such as sales income and others.
• cash disbursements, used to record money disbursement transactions for various payments/expenses.

To make it clearer, the following will present an example of a sales journal form:

Sales Journal

Date	No.	Information	Ref.	Terms of payment	Trade receivables (D)Sales (K)
2/01/2019	Ricky shop	2/10 – n/30	3.000.000

• Adjusting journal entry

namely the journal made at the end of the accounting period to equate the amount recorded whether it is the same as the same recognition period. So at the end of the accounting period, there are transactions that have not been recorded, or there are transactions that are wrong, or need to be adjusted so that they are recorded in the daily adjustments. However, you also have to remember that determining the period for reporting income or expenses depends on the accounting system used, cash basis or accrual basis.

Example: coincided on December 1 2018, a building rental fee for one year was paid in the amount of IDR 12. 000. 000, so that on a daily basis every month you must make a daily adjustment for the rental of IDR 1. 000. 000. So the daily adjustment in the first month is something like this:

Adjusting journal entry

Information	debit	Credit
Prepaid rent Rent expense	11.000.000	11.000.000

• Closing journal

is a journal made to normalize or transfer temporary estimated balances so that the industry can recognize business profit and loss for one period. The balance is estimated, while what is interpreted is a fair and prive estimate. There is also a basis for compiling daily closings, namely the profit / loss column worksheet. Not all accounts must be made daily closing. There are 4 accounts that must be made daily closing: an income account, an expense account, a private account and a profit/loss summary account. For example, the income account balance at the end of the period is known as $150. 000. 000 To make the closing daily like this:

Closing Journal

No.	Information	debit	Credit
1.	RevenueProfit/loss overview	150.000.000	150.000.000

• Reverse Journal

Reversing daily is different from closing daily. Reversing journals are created with the aim of facilitating the recording of transactions at the beginning of the accounting period. So a reversing journal is a journal made to reverse certain transaction adjustment entries. So that its form is the opposite of the adjusting journal. This means that if the balance adjustment journal is on the debit side until the reversing journal is moved or replaced on the credit side, and vice versa. As with closing daily, not all accounts can be made daily reversing. The transactions in reverse are:

• Prepaid expenses are recorded as expenses.
• Income received in advance is recorded as income.
• Expenses that still have to be paid.
• Income that must still be received.

In order to make it easier for you to master, this counter example is related to the daily adjustment pattern. As shown in the daily adjustment example, on December 1, 2018, a building rental fee of Rp. 12 was paid for one year. 000. 000 to daily every month You must make a daily adjustment for the rent of IDR 1. 000. 000. So the daily adjustment in the first month is something like this:

Adjusting journal entry

Information	debit	Credit
Prepaid rent Rent expense	11.000.000	11.000.000

To make a reversing journal is very easy, you only need to reverse it from an adjusting journal, like the following:

Reverse Journal

Information	debit	Credit
Rent expenseRent is paid in advance	11.000.000	11.000.000

In the industry, the Daily mentioned above is an important document that must be owned by the industry. Each journal relates to the preparation of financial statements at the end of the accounting cycle. In some industries, the journal created will be information that is included in the industry's financial reports. Until then journaling is very meaningful in the industry.

Example of Accounting Journal

Examples of transactions in the last month in a business.

As a businessman with an accounting background, Dinda applies an accrual-based accounting system. In order to simplify the bookkeeping process.

This is an example of an accrual chart of accounts and its application.