1. Journalizing John V. Balanquit

2. Objectives Student will be able to : • Discuss the concept of journalizing • Summarize the journalizing process • Relate the journalizing process with the identifying process

3. Definition of Journalizing It is the process of recording transactions in a chronological order. It is the first part of the recording process of accounting.

4. Journalizing Concepts Journalizing is done immediately after the identifying process. It uses the general journal or simple the journal (book of original entry). Every entry listed on the journal is known as a journal entry.

5. Journalizing Process Step 1: Indicate the date when the transaction happened

6. Journalizing Process Step 2: Indicate the account/s to be debited and write the corresponding amount/s to be debited on the debit column of the journal.

7. Journalizing Process Step 3: Indicate the account/s to be credited and write the corresponding amount/s to be credited on the credit column of the journal.

8. Journalizing Process Step 4: Provide a short explanation/description of the transaction. *** this is an optional step.

9. Journalizing Process Step 5: Leave one space before preparing another journal entry

10. Let’s have a one minute break so that we can absorb the concepts of the previous topic.

11. The Link Between Identifying and Journalizing Journalizing is simply the formalized entry that reflects the transaction analysis during the identifying phase. *** if the transaction analysis is incorrect, then the journal entry will also be incorrect.

12. Sample Journal Entry *** note that accounts credited must be indented to distinguish them from the accounts debited.

13. End of Lecture Thank You!