The following are the characteristics of journal:
- Is a book of original entry because transaction is recorded at first stage in this book.
- Is the first step in the recording process of double entry system of book-keeping.
- Is also known as day book or diary because transactions are recorded in it on day to day basis as and when they take place.
- Is a chronological record of all transactions taking place according to the order of occurrence.
- Every entry in journal is accompanied with narration which describes, briefly, true nature and context of the transactions.
- Amount of the transaction is recorded in both debit and credit column-side by side. It helps in maintaining arithmetical accuracy of the books.
- Journal and ledger are inter linked because next step after journal is the ledger.
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