The general journal is where double entry bookkeeping

Double-entry bookkeeping system

A double-entry bookkeeping system is a set of rules for recording financial information in a financial accounting system in which every transaction or event changes at least two different nominal ledger accounts....

 entries are recorded by debit

Debit

Debit and credit are the two aspects of every financial transaction. Their use and implication is the fundamental concept in the double-entry bookkeeping system, in which every debit transaction must have a corresponding credit transaction and vice versa.Debits and credits are a system of notation...

ing one or more accounts and credit

Debits and credits

Debit and credit are the two aspects of every financial transaction. Their use and implication is the fundamental concept in the double-entry bookkeeping system, in which every debit transaction must have a corresponding credit transaction and vice versa.Debits and credits are a system of notation...

ing another one or more accounts with the same total amount. The total amount debited and the total amount credited should always be equal, thereby ensuring the accounting equation

Accounting equation

The basic accounting equation' is the foundation for the double-entry bookkeeping system. For each transaction, the total debits equal the total credits.In a corporation, capital represents the stockholders' equity.-In practice:...

 is maintained.

Depending on the business's accounting information system

Accounting information system

An accounting information system is a system of collection, storage and processing of financial and accounting data that is used by decision makers. An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology...

, specialized journals

Specialized journals

Journals record transactions over a specified time in DATE ORDER using double-entry bookkeeping. Each transaction is also recorded in the ledger, which helps detect transcription errors. All transactions are classified by type into appropriate journals....

 may be used in conjunction with the general journal for record-keeping. In such case, use of the general journal may be limited to non-routine and adjusting entries

Adjusting entries

In accounting/accountancy, adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred. The revenue recognition principle is the basis of making adjusting entries that pertain to unearned and...

.

Format

A general journal entry includes:

1. The date of the transaction;
2. Titles of the accounts debited and credited (credited account is indented several spaces);
3. The amount of each debit and credit; and,
4. An explanation of the transaction also known as a Narration.