™ can help. We are expert bookkeepers that can help your small business with its bookkeeping needs. Here’s a short explanation of what Journal Entry means. If we can be of more help explaining what Journal Entry is or if we can help you with any of your small business bookkeeping needs, give us a call at 888-552-6657(888-55Books)™ provides a way for small businesses to have outsourced bookkeeping at a significant savings. We provide our clients with pre-printed envelopes. You stuff the envelopes and our expert team does the rest with detailed reports and timely compliance support. Not to mention, you now have a team of experts at your disposal should you have questions or last-minute needs. Let’s start with answering what Journal Entry means:

In bookkeeping, the journal entry is the actual input of financial data into the accounting books. Accounting is based on the system of double-entry accounting. As such, if you buy a part with cash, the part is added to inventory, while cash is reduced by the purchase price.

As such, its journal entry will include a credit with a corresponding debit. This method helps reduce errors by improving their detection since all journal entries must balance.

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