Contents
How do businesses' accounting processes work?ACTIONS IN THE ACCOUNTING PROCESS
Preparation of the opening balance sheet. Recording in the journal (daily book) Recording the entries made in the journal into the ledger (These records are made automatically with the widespread use of the computerized application.) What is the first action to be taken in the accounting recording process?With the establishment of the business, the first thing to do in terms of accounting is the preparation of the opening balance sheet, which shows the assets of the business at the time of starting the business and the sources from which these assets are obtained. After the opening balance sheet is prepared, the assets and resources in this balance sheet are recorded in the journal. . Every information recorded in the journal must be based on the document. Because, any transaction that does not have a document in accounting is not recorded.
What is a journal book and what does it do?
Journal book is the book in which commercial transactions are written item by item, based on the documents in accounting, in order of date. Every information entered in the journal must be documented. In the accounting system, no transactions are made without documents.
What is a journal journal?The word journal is used when expressing daily transactions. For example, employees who make an agreement with the employer on the basis of daily wages receive their payments on a daily basis. On the other hand, the journal is the book where the commercial transactions are recorded item by item in chronological order.
Who keeps the journals?Within the scope of the Communiqué No. 28502 on Commercial Books published in the Official Gazette on 19 December 2012; Regardless of whether it is a real or legal person, every trader is obliged to keep the Journal, Inventory Book and General Ledger. The daily working cost that is recorded is called the daily wage. Companies have to keep records of the daily wages paid to their employees.
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