What is a journal entry?

Every journal follows double entry: total debits equal total credits, so the ledger stays in balance. Recording a supplier invoice for office costs debits an expense account and credits accounts payable; paying it debits payables and credits cash. A journal carries the date, the period, accounts and dimensions such as department or entity, amounts, a narrative and supporting documents. System journals come from invoicing, bills, payroll and bank feeds; manual journals are keyed or uploaded by the finance team. Because manual journals can move any balance, controls focus on them: approval by someone other than the preparer, thresholds, restricted access and review of entries posted late, to unusual accounts or in round amounts. Ledgers such as NetSuite, Sage Intacct and Rillet post and approve journals; BlackLine and FloQast manage journal support during the close.