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Accounting & Tax vocabulary · Bookkeeping & Ledgers

Journal entry

Meaning in accounting & tax, with examples

nounCore term

In accounting & tax, journal entry means: A record of one business transaction in the accounting system, showing the date, the accounts affected, the debit and credit amounts and a short description.

In Turkish: yevmiye kaydı, muhasebe kaydı, mahsup fişi

How it is used

Accountants post, reverse and correct journal entries. Month-end adjusting entries and manual journals (often called JEs or MJEs) are reviewed carefully by managers and auditors.

Example sentences

  1. Can you post a journal entry to accrue last month's electricity bill?

  2. The auditors asked for supporting documents for every manual journal entry over 50,000 lira.

Common collocations

  • post a journal entry
  • reverse a journal entry
  • adjusting journal entry
  • manual journal entry
  • debitAn entry on the left side of an account. Debits increase asset and expense accounts and decrease liability, equity and revenue accounts.
  • creditAn entry on the right side of an account. Credits increase liability, equity and revenue accounts and decrease asset and expense accounts.
  • general ledgerThe main set of accounts of a business, where all transactions are collected account by account to show the balance of each one.
  • postTo enter a transaction or journal into the accounting system or ledger so that it updates the account balances.
  • accrualAn amount recorded in the period it belongs to, even though cash has not yet been paid or received, such as a utility bill that only arrives next month.

More terms: Bookkeeping & Ledgers

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This page explains English vocabulary for learners. It is not financial advice.