What are JOURNAL entries?
I have a large-ticket sales background but now I an in general management. I understand P&L accounts, balance Sheets, and Investment Appraisal finance, but lots of accounting jargon passes me by. In particular I hear accountants talk about "I'll do a journal entry to sort that out" and I can't find anything in standard text books on finance to explain quite what a 'journal' entry is, why it is (apparently) "special", and indeed what is(are) the other options to making a 'journal' entry? Making an accounts entry? Or what?
Any tips as to text books that will help, or an answer if it is simple, or pointers, would be much appreciated.
The accountant at work doesn't like 'outsiders' enquiring about into his arcane world!
Thanks