Zoho Bookings & SalesIQ Alignment

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Journal Entry

Meaning: 

A Journal Entry is the main record in accounting where every financial transaction is written down, showing how much money comes in and goes out.

Why It Is Important:

It forms the base for creating financial statements, which show how a business is doing. Journal entries help track what a business is doing financially

How to understand a Journal Entry:

They ensure that all transactions are accurate and clear. Journal entries are essential for audits, which check if everything is correct.

Uses of Journal Entry:   

They are used for recording sales and purchases, tracking expenses and income, adjusting accounts, and correcting errors.


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