[amber1014]

Do you put all of the transactions into the general jounal?

[amber1014]

Do you put all transactions into the general journal?

[morgaine300]

Depends on how literally you want to take that question. Basically, yes, as long as you aren't doing what we call special journals (sales journal, cash receipts journal, etc.) and as long as the instructions don't tell you to do something else. The one other exception is if you have a "non-economic" event -- for instance, you sign a contract with a supplier. Signing something saying you'll do something in the future doesn't mean anything has actually happened yet. But I guess it depends on whether you call that a "transaction."

So the simple answer is yes, but as you can see there's circumstances where that might not be true.

[morgaine300]

Please do not double-post. I've merged your questions into one thread.