what is general entry?

[riya]

I’m trying to understand the concept of general entry in accounting. Could someone explain what a general entry is and how it’s used in bookkeeping? How does it differ from other types of accounting entries?

 

[niyati]

A general entry (often called a journal entry) is a basic record of a financial transaction in an accounting system. It shows the details of money moving into or out of accounts and helps keep the company’s financial records accurate.

 

[Shane Warne]

A general entry is a record of a financial transaction in a company's accounting journal, detailing the date, accounts affected, amounts, and a brief description.

 

[Emly]

General entry refers to the standard type of admission ticket that grants access to an event, venue, or location without any special perks or reserved seating. It typically allows entry on a first-come, first-served basis and is the most common and affordable option for concerts, festivals, museums, or attractions.

 

[ankita]

A general entry, also called a journal entry, is the basic record of a financial transaction in accounting. It includes the date, accounts affected, amounts debited and credited, and a brief description. General entries ensure that every transaction follows the double-entry system, keeping financial records accurate and balanced.

 

[alexie]

A general entry is a record of a financial transaction in an accounting system that is normally kept in a general journal. It adheres to the double-entry bookkeeping method, requiring a corresponding debit and credit for each transaction, and provides the date, impacted accounts, amounts, and a brief description of the transaction. General entries capture unique or less common transactions that don't fit into specialist diaries, such as sales or cash receipts.