Journal entry

Roles that need it

• General Accountant
• Accounts Assistant / Bookkeeper
• Finance Graduate
• Group Reporting Accountant
• External Audit Associate

Skills it belongs to

• Accounting fundamentals (double entry)
• Accounting software operations
• Attention to detail

Related concepts

• General ledger (GL)The general ledger is the master record of all accounts of an entity, organised by the chart of accounts, from which the trial balance and financial statements are produced. Detailed transactions often sit in sub-ledgers that post summarised entries to it.
• Double-entry bookkeepingDouble-entry bookkeeping records every transaction in at least two accounts, with total debits equal to total credits. It keeps the accounting equation (assets equal liabilities plus equity) in balance and makes errors easier to detect.
• Accrual accountingAccrual accounting records income and expenses in the period they are earned or incurred, regardless of when cash moves. Accruals, prepayments and deferred income adjust the books at period end. IFRS and the EU Accounting Directive require it.
• Month-end close (period-end close)The month-end close is the set of accounting tasks that finalise the books for a period: cut-off, sub-ledger closing, accruals, revaluations, reconciliations, intercompany matching, review of journals and reporting. It runs to a working-day calendar, and the year-end close adds audit and statutory work.

Sources

• Directive 2013/34/EU (Accounting Directive), EUR-Lex (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.