The business transactions are recorded in the books of accounts which are customarily divided into two classes (1) Journal and (2) Ledger. A Journal is a book in which transactions are recorded in the order in which they occur, i.e., in chronological order. It is called the Book of Original Entry. Ledger is called Principal Book of accounts as all the accounting information can be obtained from this book. Journal helps the posting of entries into the Ledger accounts. Both Journal and Ledger are essential to complete and efficient system of accounting.
All business transactions can be recorded in a simple Journal. Alternatively, an enterprise may use separate Journals to record particular type of its business transactions, e.g., credit purchases may be recorded in Purchases Journal; credit sales, may be recorded in Sales Journal, purchases return may be recorded in Purchases Return Journal, and so on. These Journals are called Special Journals.
Meaning of a Journal: A Journal is the primary book of accounts in which transactions are first recorded in a chronological order, i.e., as they are entered into. Transactions are recorded in the Journal book from the accounting voucher that is prepared on the basis of source documents, i.e., cash memo, invoice, purchase bills, etc.
M.J. Keeler has defined a Journal as a chronological record of financial transactions of a business. It is called the Book of Original Entry because a transaction in first written in the Journal from where it is transferred, i.e., posted to the Ledger.
An entry recorded in the Journal is called a Journal Entry.
The process of recording a transaction in a Journal is known as Journalising.
The transfer of Journal entry to a Ledger account is called Posting.
This is very good website for getting the Right Knowledge at one place in the filed of commerce specialized in Account.