JOURNAL ENTRY What Is a Journal Entry in Accounting ? A journal entry is a recorded of the business transactions in the accounting books of a business. A properly documented journal entry consists of the correct date, amounts to be debited and credited, description of the transaction and a unique reference number. As a small business owner or you typically assume that of a book keeper or accountant is a Part of that job is recording on journal entries. KEY TAKEAWAYS A journal is a detailed record of all the transactions done by a business. When a journal entry is recorded into a company's journal, it's usually recorded using a double-entry method, but can also be recorded using a single-entry method of bookkeeping. Journal is also used in the financial world to refer to a trading journal that details the trades made by an investor and why. Using the single - Entry method in journal Single-entry bookkeeping is rarely used in accounting and business. It is the most basic