The next step up from a checkbook journal, is a journal that keeps
track of all your accounts, not just checking. In such a journal, you
record not only who gets paid—in the case of a debit—but where the
money came from. In a checkbook journal, it’s assumed that all the
money comes from your checking account. But in a general journal, you
write postings in two lines: the source account and target account.
There must always be a debit from at least one account for every
credit made to another account. This is what is meant by
“double-entry” accounting: the journal must always balance to zero,
with an equal number of debits and credits.
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Ledger: Command-Line Accountingjournal, you are recording information about your life and habits, and sometimes that information can start telling you things you aren’t aware of. Such is the aim of all good accounting tools. <span>The next step up from a checkbook journal, is a journal that keeps track of all your accounts, not just checking. In such a journal, you record not only who gets paid—in the case of a debit—but where the money came from. In a checkbook journal, it’s assumed that all the money comes from your checking account. But in a general journal, you write postings in two lines: the source account and target account. There must always be a debit from at least one account for every credit made to another account. This is what is meant by “double-entry” accounting: the journal must always balance to zero, with an equal number of debits and credits. For example, let’s say you have a checking account and a brokerage account, and you can write checks from both of them. Rather than keep two checkbooks, you decide to use one journal fo Summary
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