Format of Journal
Format of Journal Entry
We will discuss the items of the format one by one:
1. Date: In this column, the date on which the transaction was recorded is mentioned. The year is written at the top, following the month and then the day.
2. Particulars: Every transaction affects at least two accounts. One is debited and the other one is credited. The item that is debited is mentioned first and the word ‘Dr.’ is also written after that. In the next line, the item which is credited is written, a few spaces away from the margin, starting with ‘To’.
Narration- After every journal entry, a brief explanation of the transaction with necessary details is given.
3. Ledger Folio or LF: Ledger Folio shows the number of the page on which the ledger account of that particular item is made.
4. Amount (Dr.): The amount that is debited is mentioned here.
5. Amount (Cr.): The amount that is credited is mentioned here.