On 8/12/2019 12:45 PM, Clint Chaplin wrote:
This is also similar to NetSuite, which is an on-line double entry
bookkeeping service, and where "journal entries" are a special case
transaction, even though by definition everything is really a journal entry.
It is definitely a terminology confusion.
In the old days, especially with "cash book" accounting*, a "journal
entry" referred to a transaction that was not affecting any of the cash
accounts. So mainly corrections and adjustments (example: recording
depreciation).
It has no real meaning in a "virtual journal" system like gnucash.
Michael D Novack
* A shortcut where there was a special part of the ledger called the
"cash book" which had the account for cash and a half dozen or so of the
most affected other accounts. Any transactions that could skipped the
"enter into the journal first" step and were entered directly in the
cash book << usually 90+% of transactions could be >> Any transactions
that affected OTHER accounts were entered the usual way, in the journal
and then posted to the ledger.
When I did this, I usually reserved a pair of columns in the cash book
for the journal. For example, using 12 column paper, I could have the
journal, cash, and the four "most popular" other ledger accounts. Or
possibly more if only keeping one side here << the "real" ledger had all
the accounts, even those in the cashbook. At the bottom of each cashbook
page the totals were posted to the "real account" >>
The reason for using a cashbook was to reduce posting. Transcription
errors during posting were by far the majority of all errors.
Michael D Novack
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