journal entry assignment examples

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How to Write a Journal Entry

Last Updated: February 21, 2024 Fact Checked

This article was co-authored by Nicolette Tura, MA and by wikiHow staff writer, Danielle Blinka, MA, MPA . Nicolette Tura is an Empowerment Expert based in the San Francisco Bay Area. She holds a decade of experience creating change in various non-profits then went on to operate her own wellness business for 10 years. Most recently, she worked as a Therapy Associate to a chiropractic neurologist for 15 months working hands-on with patients, helping them heal from neurological disorders like concussions, long covid, migraines, and more. Nicolette guides groups and individuals on transformative meditation journeys and game-changing mindset management workshops and retreats on empowering everyone to keep expanding beyond past conditioning and self-limiting beliefs. Nicolette is a 500-hour Registered Yoga Teacher with a Psychology & Mindfulness Major, a NASM certified Corrective Exercise Specialist, and an expert in psychophysiology with experience in nervous system regulation and breath work. She holds a BA in Sociology from the University of California, Berkeley, and a Master’s degree is Sociology from San Jose State University There are 16 references cited in this article, which can be found at the bottom of the page. This article has been fact-checked, ensuring the accuracy of any cited facts and confirming the authority of its sources. This article has been viewed 2,834,830 times.

Keeping a journal allows you to record what’s happening in your life and to work through your thoughts and feelings. Sometimes, you might write a journal for school to help you deepen your understanding of what you’re studying. Fortunately, writing a journal entry is a simple process. First, choose a topic to write about, like what's happening in your life. Then, write an opening for your entry and express your thoughts.

Choosing a Topic

• This is a great way to help you document things you want to remember.
• For instance, you might write about something funny that happened at lunch, scoring the winning goal in a soccer game, or a fight you had with your friend. The events can be positive or negative.

• Let’s say you’re feeling sad because you’re going through a breakup. You could write about how you feel and what you’ll miss about the relationship. This will help you release your feelings so you can start to feel better .

• Write about what you’d like to do this weekend.
• Discuss a place you’d like to visit.
• Pretend that you found a fantasy creature.
• Write about something you want to change.
• Write from the perspective of your favourite book or movie character.

• A summary of a reading or lecture.
• Your analysis of the course material.
• Connections between topics you’ve studied.
• Personal connections you made with the coursework.
• Questions you have about the text or lecture.

Tip: Keep a journal for school focused on studying and analyzing your course material. For instance, you might summarize your coursework, record your reflections on it, and write down questions you have. Leave out how you feel about what you’re reading or studying.

Opening Your Journal Entry

• Your instructor has assigned journaling to help you deepen your understanding of your coursework and to improve your writing skills . Following their instructions will help you best achieve these goals.

• For instance, you might write, “July 24, 2019,” “07-24-19,” or “24 July 2019.”

• For instance, you might write “Good Beans Coffee House,” “School,” “Paris,” or “My bedroom” for your location. For the time, you could write the actual time, such as “12:25 p.m.,” or the time of day, like “Early morning.”

Tip: You usually don’t include a salutation when you’re writing a journal for school.

Expressing Yourself in a Personal Journal

• If mistakes really bother you, it’s okay to go back and correct them after you finish writing your journal entry.

• Turn a memory into a story.
• Record what you dreamed last night.
• Write a list, such as what you did that day or what you’re grateful for.
• Doodle or paste pictures into your journal.
• Record song lyrics or quotes that mean something to you.
• Write your own lyrics or a poem.
• Write in stream of consciousness.

• For instance, you’d write, “I went to lunch with Sari today,” not “Amy had lunch with Sari today.”

• For instance, let’s say you’re on vacation at the beach. You might include details like, “sea spray hitting my face,” “the smell of burning wood from bonfires on the beach,” “the taste of salt on my lips,” “the sun glinting off the surface of the water,” and “the shouts from other beach goers having fun.”

• With journaling, it’s more important to write often than to write a lot.

Drafting an Academic Journal Entry

• If you’re telling a story, try to follow a narrative structure to give it a beginning, middle, and end.
• Read over your journal entry before your submit it to check that it makes sense.

• For handwritten journals, your instructor may require that you simply fill up a page. Make sure you know the exact requirements so you can do your assignment correctly.
• If you’re struggling to think of something to write, make a mind map about the topic to help you brainstorm some new ideas.

• If you’re struggling with your grammar, visit your school’s writing center or ask your instructor about tutoring options. Additionally, you can find online programs that help you with grammar.

• This is especially important if you’re keeping your journal as a graded assignment.
• If you’re typing your journal entries in an online portal, there may be a spellcheck tool you can use. However, you should still proofread the entry to look for other errors.

Journal Entry Template

Community Q&A

• It’s best to write regularly so that journaling becomes a habit. To help you remember, write in your journal at the same time everyday. [19] X Research source Thanks Helpful 1 Not Helpful 0
• You can write about anything you want, so don’t feel like you can only write about how you feel. You might instead prefer to write about your daily accomplishments or what you enjoyed that day. Thanks Helpful 24 Not Helpful 4
• While you can use a paper journal, there are journaling apps and websites you can try. Additionally, it’s okay to use a word processor like Google Docs or Microsoft Word for journaling. Thanks Helpful 15 Not Helpful 8

• Since your journal is private, prevent people from reading it by keeping it in a safe place. If it’s a digital journal, you might even password protect it. Thanks Helpful 25 Not Helpful 3

You Might Also Like

• ↑ https://libguides.usc.edu/writingguide/title
• ↑ Nicolette Tura, MA. Empowerment Expert. Expert Interview. 23 January 2020.
• ↑ https://positivepsychology.com/benefits-of-journaling/
• ↑ https://www.readingrockets.org/article/journal-writing
• ↑ https://www.hamilton.edu/academics/centers/writing/writing-resources/journal-writing
• ↑ https://writing.wisc.edu/handbook/assignments/writing-an-abstract-for-your-research-paper/
• ↑ https://www.niu.edu/citl/resources/guides/instructional-guide/reflective-journals-and-learning-logs.shtml
• ↑ https://psychcentral.com/blog/ready-set-journal-64-journaling-prompts-for-self-discovery
• ↑ https://psychcentral.com/lib/the-health-benefits-of-journaling
• ↑ https://www.bates.edu/biology/files/2010/06/How-to-Write-Guide-v10-2014.pdf
• ↑ https://files.eric.ed.gov/fulltext/EJ1081806.pdf
• ↑ https://writing.wisc.edu/handbook/style/connectingideas/
• ↑ https://positivepsychology.com/writing-therapy/
• ↑ https://apastyle.apa.org/style-grammar-guidelines/capitalization
• ↑ https://libguides.usc.edu/writingguide/proofreading
• ↑ https://www.psychologytoday.com/us/blog/modern-minds/202301/10-good-reasons-to-keep-a-journal

About This Article

To write a journal entry, first find a quiet, comfortable spot where you won’t be disturbed. Take a moment to brainstorm what you want to write about. You can journal about anything, like your day, your dreams, work, school, friends, or an upcoming project. If you’re not sure, choose a writing prompt for your entry, like “What was your earliest childhood memory?” or “What is your biggest secret?” Open to a new page in your journal and write the date at the top. Then, start writing. Let your thoughts flow and don’t edit yourself. Write whatever comes to mind. It’s okay to be honest since nobody else will be reading what you write. Draw pictures if specific images come to mind while you’re writing. Try to journal for somewhere between 5 and 20 minutes every day. The more you journal, the easier it will become! Keep reading to learn how to write a journal entry for school! Did this summary help you? Yes No

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Introduction

CDHE Nomination

AUCC Requirements

Course Description

Sample Policy Statements

Syllabus Sequencing Strategies

Sample Daily Syllabi

Lesson Plans

Reading Selection Recommendations

Assignments

Response Papers and Discussion Forums

Presentations

Discusssion, Group, WTL Questions

Variations, Misc.

Curbing Plagiarism

Additional Teaching & Course Design Resources

Guide Contributors

Basic Journal Assignment Example

Here is an example of a basic journal assignment:

Short writing assignments for a personal journal will be required for all readings. Additional assignments will be given frequently in class and for homework throughout the semester. In addition, it must be kept up to date. You may be asked to read journal entries for the class. Consequently, your journal must be brought to every class. Journal writings will not be graded for quality as a paper would be. If you have completed all assigned journal entries in a sincere manner, you will receive full credit for the journal in your final grade. That credit will be lessened only if you are lacking certain journal entries, or your entries are unacceptably brief or intentionally do not address the topic. The journal will not be judged negatively for unintentional errors in writing or punctuation. In other words, the journal is one place where a better writer will not necessarily get a better grade. The journal rewards effort and participation. It provides an opportunity to succeed no matter where you are starting from if you sincerely dedicate yourself.

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3.37: Assignment- Critical Thinking Journal Entry

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• Visit the Quia Critical Thinking Quiz page and click on Start Now (you don’t need to enter your name). Select the best answer for each question, and then click on Submit Answers. A score of 70 percent or better on this quiz is considering passing.
• Write a 200-400 word reflection on this activity. Based on the content of the questions, do you feel you use good critical thinking strategies in college? In what ways might you improve as a critical thinker?

Worked Example

Journal entry assignments tend to be more flexible than other types of writing assignments in college, and as a result they can be tailored to your own experiences as long as they answer the primary questions asked in the assignment.

One model of a successful entry about this topic can be found below. Feel free to include your own experiences and examples from real life as they pertain to the issue at hand.

Critical Thinking Journal Entry

by Sandy Brown

The thing I like about critical thinking is that is applies to everything. If you get better at using critical thinking in school, that means other things in life get easier, as well (at least that’s what I hope is true).

I didn’t do so great on the critical thinking quiz. I got a 50% the first time, but I think I would have done better if I had understood the questions more clearly. Question #9, the one about having autonomy, I got wrong because I thought it was saying it was important, rather than it wasn’t. Now that I think about it, I guess that’s an example of where I could be a better critical thinker—I could take the time to read these questions more closely, and be sure that my answer makes sense to what the question actually asks, rather than what I think it asks.

I was happy with parts of this, though. There were a couple of questions about fair-mindedness, and I got both those right, even though I didn’t remember seeing the words “fair-mindedness” in the textbook. That phrase makes a lot more sense to me than “first order” and “second order” thinking.

For me, I think that I’m a better thinker when I’m not in a rush. I tend to panic when I take tests, and then I answer questions too quickly. For things that don’t have a timer, like homework or out-of-class assignments, I tend to do a lot better because I can take as long as I need to figure out what exactly I’m supposed to do. So I guess one way to improve my critical thinking skills would be to practice going slower for timed tests, and giving myself time to check my answers before turning something in. I don’t want to make mistakes like the one I did on this quiz, when it counts against my actual grade.

• Try It: Critical Thinking. Authored by : Linda Bruce. Provided by : Lumen Learning. Located at : https://courses.candelalearning.com/lumencollegesuccess/chapter/critical-thinking-skills/ . License : CC BY: Attribution
• Revision and Adaptation. Provided by : Lumen Learning. License : CC BY: Attribution

Module 1: Success Skills

Assignment: computer-based writing journal entry.

Develop a 200–400 word journal entry describing your proficiency with using word processors, and what you might still need to practice further. To help you write this entry, consider some of the following questions:

• Would you consider yourself a beginner, intermediate, or advanced user of word processors? Why?
• What do you find yourself frustrated by, when you use a word processor?
• What comes easily to you, when you use a word processor?
• What do you feel you need more practice with?
• What do you feel you could explain how to do to others?

Worked Example

Journal entry assignments tend to be more flexible than other types of writing assignments in college, and as a result they can be tailored to your own experiences as long as they answer the primary questions asked in the assignment.

One model of a successful entry about this topic can be found below. Feel free to include your own experiences and examples from real life as they pertain to the issue at hand.

Computer-Based Writing Journal Entry by Sandy Brown I would categorize myself as an intermediate word processor user. I’ve used Word a lot, both for work and for personal use. I write letters, and have no trouble with the basics like saving or attaching to emails. I have definitely had the experience of losing documents in Word, which is very frustrating. I would like to know more about how I can prevent that from happening again. One of the classes I withdrew from was going to use Google Drive for submitting essays. I’ve never used that before, and I’m a bit nervous about other classes that may require the same thing. I set up an account but didn’t get very far with it. I consider myself much better at programs like Excel, because I use those all the time for work. Some of the things I recognized in the Word tutorial videos were things I do regularly in Excel, like changing formatting. Changing the default settings seems like a good idea, because it sounds like many instructors will require the same kinds of document formatting for the written assignments I turn in. I don’t know why the default settings are different from what we use in school, but that’s okay. It helps knowing that I can change them once and then not have to worry about it anymore. I’ve never had to do bibliography pages before, though my oldest daughter has for school projects. I hope that she can help me figure out the harder parts when it comes time for that. And having these videos to refer back to will be very helpful, as well.

• Try It: Computer-Based Writing. Provided by : Lumen Learning. License : CC BY: Attribution

• 101 Accounting Basics Strong foundation on fundamental concepts and the accounting process
• FIN Financial Accounting Financial accounting and reporting, financial statements, IFRS and GAAP
• MNG Managerial Accounting Managerial/management accounting topics to aid in decision-making
• DIC Accounting Dictionary Accounting terms defined and carefully explained
• MIS Misc Articles Miscellaneous topics about anything accounting
• References +
• 1 Analyzing business transactions
• 2 Rules of debit and credit
• 3 Chart of accounts
• 4 Journal entries
• 5 More journal entry examples
• 6 Posting to the ledger
• 7 Trial balance
• 8 Correcting entries

Journal entries: More examples

For additional practice in preparing journal entries, here are some more examples of business transactions along with explanations on how their journal entries are prepared.

A Few Things Before We Start

The transactions in this lesson pertain to Gray Electronic Repair Services, our imaginary small sole proprietorship business.

For account titles, we will be using the chart of accounts presented in an earlier lesson.

All transactions are assumed and simplified for illustration purposes.

Note: We will also be using this set of transactions and journal entries in later lessons when we discuss the other steps of the accounting process.

Alright! Let's start.

Transaction #1: On December 1, 2021, Mr. Donald Gray started Gray Electronic Repair Services by investing $10,000. The journal entry should increase the company's Cash, and increase (establish) the capital account of Mr. Gray; hence:

Transaction #2: On December 5, Gray Electronic Repair Services paid registration and licensing fees for the business, $370.

First, we will debit the expense (to increase an expense, you debit it); and then, credit Cash to record the decrease in cash as a result of the payment.

Transaction #3: On December 6, the company acquired tables, chairs, shelves, and other fixtures for a total of $3,000. The entire amount was paid in cash.

There is an increase in an asset account (Furniture and Fixtures) in exchange for a decrease in another asset (Cash).

Transaction #4: On December 7, the company acquired service equipment for $16,000. The company paid a 50% down payment and the balance will be paid after 60 days.

This will result in a compound journal entry. There is an increase in an asset account ( debit Service Equipment, $16,000), a decrease in another asset ( credit Cash, $8,000, the amount paid), and an increase in a liability account ( credit Accounts Payable, $8,000, the balance to be paid after 60 days).

Transaction #5: Also on December 7, Gray Electronic Repair Services purchased service supplies on account amounting to $1,500.

The company received supplies thus we will record a debit to increase supplies. By the terms "on account", it means that the amount has not yet been paid; and so, it is recorded as a liability of the company.

Transaction #6: On December 9, the company received $1,900 for services rendered. We will then record an increase in cash (debit the cash account) and increase in income (credit the income account).

Transaction #7: On December 12, the company rendered services on account, $4,250.00. As per agreement with the customer, the amount is to be collected after 10 days. Under the accrual basis of accounting , income is recorded when earned.

In this transaction, the services have been fully rendered (meaning, we made an income; we just haven't collected it yet.) Hence, we record an increase in income and an increase in a receivable account.

Transaction #8: On December 14, Mr. Gray invested an additional $3,200.00 into the business. The entry would be similar to what we did in transaction #1, i.e. increase cash and increase the capital account of the owner.

Transaction #9: Rendered services to a big corporation on December 15. As per agreement, the $3,400 amount due will be collected after 30 days.

Transaction #10: On December 22, the company collected from the customer in transaction #7. We will record an increase in cash by debiting it. Then, we will credit accounts receivable to decrease it. We are reducing the receivable since it has already been collected.

Actually, we simply transferred the amount from receivable to cash in the above entry.

Transaction #11: On December 23, the company paid some of its liability in transaction #5 by issuing a check. The company paid $500 of the $1,500 payable.

To record this transaction, we will debit Accounts Payable for $500 to decrease it by the said amount. Then, we will credit cash to decrease it as a result of the payment. The entry would be:

Accounts payable would now have a credit balance of $1,000 ($1,500 initial credit in transaction #5 less $500 debit in the above transaction).

Transaction #12: On December 25, the owner withdrew cash due to an emergency need. Mr. Gray withdrew $7,000 from the company.

We will decrease Cash since the company paid Mr. Gray $7,000. And, we will record withdrawals by debiting the withdrawal account – Mr. Gray, Drawings .

Transaction # 13: On December 29, the company paid rent for December, $ 1,500. Again, we will record the expense by debiting it and decrease cash by crediting it.

Transaction #14: On December 30, the company acquired a $12,000 short-term bank loan; the entire amount plus a 10% interest is payable after 1 year.

Again, the company received cash so we increase it by debiting Cash. The company now has a liability. We will record it by crediting the liability account – Loans Payable .

Transaction #15: On December 31, the company paid salaries to its employees, $3,500.

For this transaction, we will record/increase the expense account by debiting it and decrease cash by crediting it. ( Note: This is a simplified entry to present the payment of salaries. In actual practice, different payroll accounting methods are applied. )

There you have it. You should be getting the hang of it by now. If not, then you can always go back to the examples above. Remember that accounting skills require mastery of concepts and practice.

We've gone through 15 journal entry examples and explained how each are prepared to help you learn the art of recording. By now you'd feel more confident in preparing journal entries. Feel free to refer back to the examples above should you encounter similar transactions.

More under Analyzing, Recording, and Classifying Business Transactions

• 1 Analyzing Business Transactions
• 2 Rules of Debit and Credit
• 3 Chart of Accounts
• 4 Journal Entries
• 5 More Journal Entry Examples
• 6 Accounting Ledger
• 7 Trial Balance
• 8 Correcting Entries

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Common Assignments: Example

The example annotation below includes the citation, a summary in the first paragraph, the critique/analysis in the second paragraph, and the application in the third paragraph.

Gathman, A. C., & Nessan, C. L. (1997). Fowler's stages of faith development in an honors science-and-religion seminar. Zygon , 32 (3), 407–414.  https://doi.org/10.1111/0591-2385.00099

The authors described the construction and rationale of an honors course in science and religion that was pedagogically based on Lawson's learning cycle model. In Lawson's model, the student writes a short paper on a subject before a presentation of the material and then writes a longer paper reevaluating and supporting his or her views. Using content analysis, the authors compared the students' answers in the first and second essays, evaluating them based on Fowler's stages of development. The authors presented examples of student writing with their analysis of the students' faith stages. The results demonstrated development in stages 2 through 5.

The authors made no mention of how to support spiritual development in the course. There was no correlation between grades and level of faith development. Instead, they were interested in the interface between religion and science, teaching material on ways of knowing, creation myths, evolutionary theory, and ethics. They exposed students to Fowler's ideas but did not relate the faith development theory to student work in the classroom. There appears to have been no effort to modify the course content based on the predominant stage of development, and it is probably a credit to their teaching that they were able to conduct the course with such diversity in student faith development. However, since Fowler's work is based largely within a Western Christian setting, some attention to differences in faith among class members would have been a useful addition to the study. 

Fowler's work would seem to lend itself to research of this sort, but this model is the only example found in recent literature. This study demonstrates the best use of the model, which is assessment. While the theory claimed high predictive ability, the change process that the authors chronicled is so slow and idiosyncratic that it would be difficult to design and implement research that had as its goal measurement of movement in a faith development continuum.

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Journal Entries Explained - Full Guide With Examples

Creating a journal entry is the process of recording and tracking any transaction that your business conducts. Journal entries help transform business transactions into useful data.

Want to learn how to correctly write journal entries for your business? You’ve come to the right place!

In this guide, we’re going to cover:

What Is a Journal Entry?

Why are journal entries so important, what is included in a journal entry, what are the different types of journal entries, how to use accounting software to document your journal entries.

Journal entries are records of financial transactions flowing in and out of your business. These transactions all get recorded in the company book, called the general journal .

Journal entries are the very first step in the accounting cycle . The main thing you need to know about journal entries in accounting is that they all follow the double-accounting method.

What this means is that for every recorded transaction, two accounts are affected - and as a result, there is always a debit entry and a credit entry.

Before diving into the nits and grits of double-entry bookkeeping and writing journal entries, you should understand why journal entries are so important for a business.

Well, for starters, maintaining organized records of your transactions helps keep your company information organized . Accountants record data chronologically based on a specific format. This way they can easily find information and keep an eye out for any possible accounting errors .

Secondly, journal entries are the first step in the recording process. So you’ll eventually need them to prepare other financial statements . The income statement, cash flow, balance sheet, all of them are based on the initial recordings of journal entries.

Lastly, performance measurement . Auditors use financial reports to analyze how transactions are impacting the business.

What Is Double-Entry Bookkeeping?

As we said above, in every transaction, at least two accounts will change, where one is debited and the other one credited. This is known in accounting as double-entry bookkeeping .

Double-entry bookkeeping isn’t as complicated as it might sound. To understand the concept, think about any purchase you’ve ever made.

Money in exchange for a product, right? In accounting language, this is a transaction that simultaneously affects two accounts . The cash account, which decreases since you’re paying, and the equipment account, which increases from buying the product.

So in simple terms, in the business world, money doesn’t simply appear or disappear. If it goes into one account, it has to get out of another. That’s why it’s called “double-entry”.

This is where the concepts of debit and credit come to play.

First, let’s get some common misconceptions out of the way.

Debit and credit are neither good nor bad . And no, they’re not the same as adding or subtracting .

They are just words that show the double-sided nature of financial transactions .

In brief: debit is money that flows into an account , whereas credit is money that flows out of an account .

Here’s all you need to remember:

• A credit is always on the right side of a journal entry . It increases the owner's equity, liabilities, and revenue when credited. It decreases them when debited.
• A debit, on the other hand, is always on the left side of a journal entry . It increases assets and expenses when debited. It decreases them when credited.
• At the end of the journal entry, the credit and debit balance should be equal to each other . If they don’t, double-check because you’ve probably made a mistake.

Does it all still sound a bit confusing? Don’t worry! We’ve made a cheat sheet so you can easily remember.

Ready to solve an example? Let’s take a simple one and explain the process step-by-step.

Double-Entry Bookkeeping Example

Let’s say the owner of an advertising company decides to invest $10,000 cash in his business.

There are three main steps you have to follow to make the perfect journal entry:

First, figure out which accounts are affected . In this transaction, they are the assets account and the owner’s equity account.

Now, determine which items have been increased or decreased , and by how much .

Since the owner is making an investment , both of the accounts will increase by $10.000. The asset account will have $10.000 more in cash, whereas the Owner’s Equity account $10.000 more in Capital.

Lastly, we have to translate the changes into debits and credits . We learned that debits increase assets, so cash will be debited for $10,000. On the other hand, the opposite will happen to the owner’s equity. Capital will be credited for $10,000.

After this point, the hardest work is done. All there’s left to do now is neatly document the transaction.

Here’s how you do it ...

To make a complete journal entry you need the following elements:

• A reference number or also known as the journal entry number , which is unique for every transaction.
• The date of the journal entry .
• The account column , where you put the names of the accounts that have changed .
• Two separate columns for debit and credit . Here you will put the amounts that will be credited and debited. Again, it’s important to remember that they must be equal in the end. If you’re using accounting software, it won’t let you post the journal entry unless the amounts match. However, if you’re using manual apps like Sheets or Excel, always triple check the balance.
• Lastly, the journal entry explanation . This needs to be a brief but accurate description of the journal entry. You may need to refer back to it in the future, so be as clear as possible.

This is what the previous transaction would look like in a Journal:

What are the Most Common Types of Journals?

Businesses are diverse - in size, service, ownership. That’s why there are different types of journals, based on the company you run. Mainly, however, we divide them into two categories: general and special .

We briefly mentioned the general journal in the beginning. To recap, the general journal is the company book in which accountants post (or summarize) all journal entries.

While small businesses and startups might not have difficulty fitting all of their entries in the general journal, that’s not always the case.

For big industries like trading or manufacturing, other journals, called special journals are necessary. Their purpose is to group and record transactions of a specific type. These types depend on the nature of the business. Usually, though, special journals record the most recurring transactions within a company.

Here’s a list of the most frequent types of special journals utilized by companies:

• Sales - income you earn from sales.
• Sales Return - loss of income from sales you’ve refunded
• Accounts Receivable - cash owed to the company
• Accounts Payable - cash the company owes
• Cash Receipts - cash you’ve gained
• Purchases - payments you’ve done
• Equity - owner’s investment
• Payroll - payroll transactions such as gross wages, or withheld taxes

Most Common Journal Entries for a Small Business

Some of the most common types of journal entries that a small business will make are the following:

All examples assume tax is applied on sales and purchase. If no tax, then it can be removed as the value will be zero.

Journal Entry for Sales of Services

Journal Entry for Sales Invoice - Goods/Inventory

Journal Entry for Cash Sales

Journal Entry for Receiving Payment for Invoice

Journal Entry for Purchase of Goods

Journal Entry for Purchase of Services

Journal Entry for Making Payments for Purchases

Journal Entry for Only Fulfilling Orders (transfer of goods/inventory out of the system)

Journal Entry for Only Receiving Goods (transfer of goods/inventory into the system)

As you might’ve guessed, a journal entry for sales of goods, is created whenever your business sells some manufactured goods. Since these are self-descriptive enough, let’s move on to some more complex accounting journal entries.

There are three other main types of journal entries in accounting:

Compound Entries

When transactions affect more than two accounts , we make compound entries . These are common when the recordings are related in nature or happen during the same day.

Remember: debits and credits must always be equal. The principle stays the same, there are just more accounts that change.

Let’s check out an example.

XYZ company decides to buy new computer software for $1,000. They pay $500 in cash right away and agree to pay the remaining $500 later.

The steps are the same as in the double-entry bookkeeping.

First, we figure out which accounts have changed and by how much. In this scenario, those are three:

• Asset account, which increases by $1,000 when buying the new computer software.
• Cash account, which decreases $500 in Cash from paying.
• Accounts payable account, which increases $500 from the remaining unpaid amount.

The next step is to translate them into debit and credit.

Assets increase when debited, so Equipment will be debited for $1,000. Expenses decrease when credited, so Cash will be credited for $500. Liabilities increase when credited, so Accounts Payable will also be credited for $500.

This is what the transaction would like in a Journal:

Adjusting Entries

Adjusting entries are used to update previously recorded journal entries . They ensure that those recordings line up to the correct accounting periods. This does not mean that those transactions are deleted or erased, though.  Adjusting entries are new transactions that keep the business’ finances up to date .

They are usually made at the end of an accounting period . The accounting period usually coincides with the business fiscal year.

There are four main types of adjusting entries:

• Prepaid expenses are payments in cash for assets that haven’t been used yet. Think of insurance. It protects a company from possible losses, like fire or theft, which haven’t happened yet.
• Unearned revenue is cash received before the product or service is provided. Take your yearly gym membership or Spotify subscription - you’re paying in advance for future service.
• Accrued revenue is money earned, but not collected. If you take a loan, the interest rate income from the loan will be recorded as an accrued revenue.
• Accrued expenses are expenses made, but not paid. An example would be not paying your workers their salary until the end of the month.

Let’s put all of this information into a concrete exercise.

On October 2nd, you sell to a client, a service worth $3,000. You receive the payment for the provided service, however, you forget to make a journal entry.

Then at the end of October, you compare the actual cash reserve with the cash reserve shown on the balance sheet.

Since the two sums will not match, it means that there is a missing transaction somewhere. At this point, you need to make a journal entry adjustment .

The journal entry on October 31st would look like this:

Reversing Entries

Reverse entries are the opposite of adjusting entries. When we say the opposite, we don’t mean that the adjusting entries get deleted. No amount previously recorded changes. Reverse entries only simplify financial reports , by canceling out the effect of the adjusting entries.

Since their goal is just to simplify, reverse entries are optional. Some accountants choose to make them, others don’t.

They’re usually done at the start of a new accounting period .

Because adjusting entries are made at the end of the period. So, for instance, if the period ends on December 31st, you would do the reverse the next day, on January 1st.

Now, you can’t reverse all types of adjusting entries: only accrued revenues and accrued expenses .

Let’s see how the previous accrued revenues example would look like reversed.

The adjusting entry in the last section was:

• Accounts receivable debited for $3000
• Service revenue credited for $3000

What reversing entries do is switch the places of the two. So now:

• Service revenue will be debited for $3000
• Accounts receivable will be credited for $3000

This is what the complete journal entry would look like:

Running your own company comes with many challenges . No business owner has time to write down all of their journal entries by hand.

That’s why most companies record their entries using accounting software.

You might be thinking - isn’t accounting software only for accountants?

Well, most are, but we at Deskera prioritize small business owners. We’ve spent over 10 years working with small business owners from 100+ different countries to create a cloud accounting software that fits any type of business.

Need to create invoices , manage inventory, create financial reports, track payments, manage dropshipping? You can do all of that with Deskera. Our program is specifically built for you, to easily manage and oversee the finances of your business.

Here’s how you can use Deskera Books to record journal entries. 1.  Go to Accounting > Journal Entry.

Here, you’ll be able to view, create, and manage all your journal entries. The main attributes displayed for every entry here are the journal entry number, the journal entry date, the journal entry type, and the related document number .

To view the details of each journal entry, you can press on the expand all records button. As you can see, the account name, debit amount, credit amount, and description will all appear .

2.   Next, to manually create a journal entry, press on the create button on the top right . You’ll notice two journal entry options: normal or fund transfer. Each option depends on the type of entry you’re making.

3.   Click JE - Normal . This will take you to the general journal page. The top half of the page contains the auto numbering format, currency, and journal date . There’s also an option that allows you to include the entry on the tax report . Then there’s the bottom half , where you can add the account, description, type, and amount .

4. Fill in all of these boxes with the appropriate information and press Save . Ta-da, you’ve created a journal entry!

What if you accidentally enter the wrong amounts? The software will notice and won’t save the journal entry . That’s what the “unbalanced account” on the bottom right of the page serves for. The exact off-balance amount will show.

Automate Journal Entry Creation Using Accounting Software

Businesses have moved on from the age of pen and paper for a reason. Using accounting software like Deskera will help you automate the entire journal entry creation process.

When your business creates an invoice , the corresponding journal entry is added automatically by the system in the respective ledger for Accounts Receivable, Sales, Sales Tax, etc...

Similarly, when a payment is processed, the bank and the accounts receivable are adjusted automatically by the accounting software.

Deskera , allows you to integrate your bank directly and track any expenses automatically. When you make an expense, the journal entry is automatically created, and it is mapped to the correct ledger account.

You can also create custom invoices using the provided templates, and send reminders to make sure you don’t miss out on any invoice payments .

To top it off, creating financial reports with Deskera is as easy as 1-2-3.

Still not sure? Well, luckily Deskera offers a completely free trial. You can sign up here and try out all 3 Deskera platforms - Books, Sales (CRM), & People (HRIS).

Key Takeaways

Hope our guide to journal entries was helpful!

For a quick recap let’s go through the main points we’ve covered:

• Journal entries record the financial transactions of a business . They’re the first step in the accounting cycle.
• Each transaction in a journal entry affects two accounts . One of them is debited, the other one credited. Simply put, debit is money flowing into a company, whereas credit is money flowing out.
• Never forget: debits and credit should always be equal in the end.
• To write a journal entry you need to figure out which accounts are affected, which items decrease or increase, and then translate the changes into debit and credit.
• A complete journal entry is made of 6 elements : a reference number, date, account section, debits, credits, and a journal explanation.
• You can record these journal entries into either a General Journal or a Special Journal .
• There are three main types of journal entries: compound, adjusting, and reversing .
• Use accounting software like Deskera to automate the process of creating journal entries, and save a ton of time!

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How to Write a Journal Entry

Have you always wanted to express yourself but you just would not like to share it with somebody? Then writing journal entries can be of great of help to you especially if you want your thoughts materialized into words. Plus, you do not have to be worried about having another person knowing about it.

• 19+ Travel Journal Writing Examples
• 5 Reflective Writing Examples & Samples

Understanding Journal Entries

Journal entries are pieces of writing, which come individually, that will take and fill up a journal or even an ordinary notebook. It is in a journal entry where you will be able to express yourself, your personal growth, your interests, your opinions, and even the mundane things you have done and encountered in a day.

Journal entries usually come in between 500–1000 words. A journal entry may not be connected or related to a previous or the following entry unless stated. Journal entries are considered as something that is private since it is where you can be able to write with no holds barred.

When it comes to content, a journal can contain anything and everything. You can include a chronicle of what happened in your day, the summary of your deep thoughts, and you could even include your to-do tasks for the next day or tasks that you have already completed within the day.

When you would decide to write journal entries for the first time, you may want to consider starting with writing even the most ordinary events that happened in your day, the secrets you want to spill but could not spill to others, and even your most random train of thoughts.

You could also get assigned to write a journal entry for school, you may have to read the stated instructions properly as it could contain only the necessary items that you have to write for your journal entry assignment and that it could also save you some time from writing irrelevant content.

Starting a Journal

Before you would step into the world of journal writing, you just have to have the will to write in the first place. Without the will and the desire to write a journal entry, you will surely not reach even to the half of your journal. You might get discouraged at first especially if you are not confident with your writing, but do not worry because you do not have to be a renowned author to start a journal.

Keep in mind that when in writing a journal, you just have to be honest with yourself. Once you are assured that you really are willing to start writing a journal, here are the steps that can guide you:

1. Decide a comfortable space to write.

There are two spaces to consider when writing a journal. First, you have to consider where you are going to sit when writing a journal and the second is where you should be writing your journal entries.

For the first space, you have to decide on a place where you are at your most comfortable state that you would not be worrying that someone is standing behind you reading your journal entry. You would not want that, right? Additionally, you might want to remember some things that happened during your day and that you could not do so if there will be background noises and distractions as you write.

For the second space, you have to decide on a writing space where you would be writing your journal entry. Do not write anywhere and choose a kind of writing space, be it a notebook or a journal, where you will be able to write comfortably as well. You could also opt for a digital journal where you can easily add, edit, or delete some parts easily without having to deal with the mess; plus, you could easily add other elements, such as photos, that could make your journal entry more detailed.

2. Reflect on your day and ask yourself questions.

Once you have found a perfect place to write and a perfect writing space to write your journal entry on, you should now have to reflect on what happened during your day and what are the events that are journal-worthy for you. You do not have to write on this step.

If you are a newbie at journal writing, do not be too hard on yourself and just write what you can manage to write since your journal entry can just be about anything you want. If you want to write down the moments in your day that you want to have a keepsake out of, you can totally do it even by just closing your eyes and reflecting on what happened throughout your day, including what you may have felt about it.

If you find it hard to reflect, you can just start on basic questions that could help you generate content for your journal entry.

3. Start writing!

You already have what you need so that only means that the only thing left to do is the actual writing of your journal entry.

Again, if you are a beginner at writing journal entries, you can start with simple sentences that start with  “I feel,” or “I think,” or “I wonder.”  Also, do not be afraid to have a central topic for your journal entry and do not be afraid to exclude some parts of your day that you don’t feel recording, most especially if it is just too mundane and basic, such as taking a bath. Unless something remarkable happened during your bath, then you might find it important to write it down. Make sure that you make your journal a space where you can feel at your most comfortable state.

However, if you are to write a journal for an assignment in one of your classes, be sure that you will be able to follow the instructions given by your teacher or professor.

4. Re-read and add.

When you would get into writing your journal writing, there is a tendency that you might forget some things, this is why it is advised that you should go back and re-read your journal entry right after writing it. It is not really necessary for you to check whether grammar, especially the spelling and syntax, is done right and flawless, but if you see the need to edit it since it can affect the message you want to convey, then, by all means, do so.

However, if it is a journal assignment, make sure that you would also check up on your grammar and syntax since your journal will be graded by your teacher.

Additionally, add and enter any missing details on your journal entry once you notice it during your re-reading period. Write it down immediately for it may be difficult to try and remember about it the next time.

Tips for Writing Journal Entries

If you are just getting started to write your first batch of journal entries, it could get difficult for you at some point. However, once you would finally get the hang of it, your journal entries would just easily flow. Here are some tips you can make use of should you want to get better at this activity:

1. Be creative.

Journal entry writing has no limits. You do not have to stick to words and long paragraphs if that bores you. You can make use of any visual material, such as an artwork or a photograph that would make your journal writing even more memorable.

2. Write a dialogue and a memory

In your day, you might have gotten yourself into a conversation so striking you want to have a record of it and you can freely do so on your journal entry. If there was a significant moment that happened to you on that day, write it as a memory on your journal entry. When you find starting to write an entry journal difficult, you can always go these basic things to write and start from there.

3. Set a schedule.

As we mentioned earlier in the article, setting a schedule is a great first step. Decide how many times you want to write and set a schedule. Whether it be once a day, or once a week, decide on a time you want to write and don’t skip it.

4. Have fun.

Of all the things that have been written above, the only thing that you should always stick in your mind is to have fun while writing your first batch of journal entries. It is in having fun that you would just let go of anything that holds you back from writing what you want to write and just let your pen, your hand, and your thoughts do all the action.

Journal entry writing is not a chore or a requirement (unless it’s a given assignment) that you should feel so much pressure from. Free yourself from doubts and just write.

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