Concept And Meaning Of Journal Proper

Journal proper is one of the important journals or subsidiary books. It is a subsidiary book in which not all but only a few types of transactions are recorded. There are certain types of transactions which are not recorded in other subsidiary books but are recorded in the journal proper. These transactions, for example, include the transactions relating to drawings, outstanding expenses, accrued incomes, reserves, provisions, interest on capital, drawing of goods and assets by proprietor, loss of goods by some reasons, and credit purchase and sale of other assets such as land, buildings, machinery, and furniture. In journal proper book, the transactions are recorded by passing journal entries based on the rules of debit and credit. Formally, thus, the journal paper may be defined as a journal or subsidiary book in which not all but only a few types of financial transactions of the business are recorded systematically in a chronological order as and when they take place.