Namaste everyone! How are you?
Sir, I'm good. You tell me.
If you're good, then I'm good too.
We're shooting here for you late at night.
I won't tell you the time, otherwise you might fall asleep
after hearing the time.
The time is getting dangerous, but that's okay.
You'll get a lot of energy.
Because today we're going to do a great topic, which is
called Journal Book of Original Entry.
Sir, what is the name of the topic, Journal or Book of
Original Entry?
The name of the topic is J-O-U-R-N-A-L.
And its other name is Book of Original Entry.
Just like a person's school name is different, and a
house's love name is different, similarly, the name of this
chapter's school is Journal, and the name of the house is
Book of Original Entry.
There are two names like this.
This chapter is the basis of all accounting.
This is the base for your whole accounting.
You know about accounting cycle, right?
Do you know or not? Have you ever ridden an accounting
cycle?
No, sir.
We just took that kind of a cycle, where there are two
wheels on the side of the rear wheel, which you can ride
easily.
You don't have to balance.
What I mean to say is, sir, we're taking the support of
your wheels.
We haven't ridden an accounting cycle yet.
Now, we'll ride it slowly. I said, no problem.
We'll make you ride an accounting cycle, and you'll run
like this with the accounting cycle.
You won't need the two wheels on the back.
One situation will come like this.
You'll lift the front wheel and ride it on the same wheel.
Don't worry about that.
So, the first step of our accounting cycle is the journal.
Book of Original Entry.
This is the first step in the accounting process.
Okay, sir.
Come, friends.
Let's write this thing on the pad.
Let's write it on the pad.
Sir, you didn't connect the pad at all.
I said, okay, that's it.
What do you think about connecting the pad?
Does it take 2-4 nights?
Does it take only 2-4 talks?
I did this and the pad got connected.
You didn't even know.
Come, friends.
Let's go on the pad.
Let's see the accounting cycle in its entirety.
We'll see the accounting cycle in its entirety.
Where does the accounting cycle start and end?
Accounting cycle.
In accounting, first of all, there is an activity or
transaction which has a positive or negative effect on the
financial position of the business.
Whether it is positive or negative, such activity is called
a transaction.
And we make such transactions a part of the accounting
cycle.
Sorry, a part of the accounting process.
If there is such a transaction or activity which has no
effect on the position of the business, then it will not be
a part of the accounting.
There will be no accounting for it.
There will be no discussion for it.
We will not buy a cycle for it.
We will not make it sit on the cycle.
It is useless.
Okay, sir.
There should be some monetary value as well.
If you have not seen the meaning of a transaction, then,
brother, are you running classes by looking at such
nonsense?
We have made it in the entire series.
Chapter number 2 is Basic Accounting Terms.
Who will read it?
The meaning of a transaction is so detailed there that you
would have never thought in your dreams that the meaning of
a transaction can be so detailed.
Is it, brother?
Sir, we have seen it.
What is good about seeing it?
It is wrong to run such nonsense classes.
It is not understood like this.
Run some series.
Okay, sir.
Okay.
In the accounting cycle, the transaction comes first.
And the next step is that transaction, that event, that
activity, we record it in a book whose name is a journal.
And there is another name for it.
What? Book of Original Entry.
Signal of Love.
Book of Original Entry.
Okay.
There is nothing.
It is a register.
Shall I tell you what a journal is?
Take this.
Now read the name of our academy above.
Pure Professional Private Limited.
Friends, there was a transaction in Pure Professional
Private Limited.
There was an event which will affect the financial position
of the business.
There was an activity.
Okay.
So, what should we do?
First of all, we have to write it in a book where for the
first time, we will write the entry, we will write the
transaction that this happened with the business.
We will give the name of the journal to that book.
Sir, does the journal look like this?
Brother, the journal can look as you want.
This is a register.
Oh, the brightness is too much.
The white page is also not visible from inside.
See this.
This is a register in which any transaction is recorded for
the first time.
Sir, how do we record?
Shall I explain this whole chapter to you in the next 10
seconds?
How do we record?
That will be discussed later.
That is what is going on.
The matter is over.
Some might have left.
Some might have said, bye-bye, see you.
No, right?
That will come slowly.
Let's go step by step.
So, brothers, the book in which we will record the
transaction for the first time, we will give it the name of
the journal.
Do you know what will happen?
I have this.
I will write it with a marker.
I will run to a register and buy it from the market.
I went to the market.
I said, uncle, uncle, give me a register.
He asked, which one?
I said, give me the one with 120.
That's it.
Inside it, the page should be white and it should have a
spiral.
I brought it.
Why did I bring it?
The pure professional private limited transactions will be
there.
I will record them in this.
Why? Won't you record the events in the business?
Then how will you do their accounting?
Then how will you get the information of the business?
Have you forgotten the objective of accounting?
Have you forgotten what was the objective of accounting?
The objective of accounting, asset liability, profit loss,
find out all four things.
And until you write the events of the business in the
books, you won't record, you won't do accounting, you won't
follow the process, then how will the objective of
accounting be fulfilled?
Accounting will give you its end result, end product, that
is, profit loss, asset liability, from somewhere.
Okay, sir.
That's why I brought the register.
I will write on this register,
I brought the register from yesterday.
I will write on this register, pure professional private
limited.
Sir, you have written, you have not written.
Sir, tell the truth.
Okay.
You are not going too deep.
I have written.
Now, whether it is printed here or not, don't worry about
that.
I have written.
Pure professional private limited.
And I will write on it in big letters,
J O U R N O A L If you say, journal.
Take this.
I have seen, brother.
I have written.
If you say, journal.
I will write pure professional private limited.
And I will write journal on this.
Now, this means that this register, this business
transactions, will be useful for recording for the first
time.
Any business transaction, for the first time, will go in
this book.
Sir, does any transaction go in books many times?
Yes.
The next book after journal is ledger.
Then the same transaction goes in ledger book after journal
book.
Then the same transaction goes in the next book, trial
balance.
Then the same transaction goes in the next book, financial
statements.
My God.
Yes, this is the accounting cycle.
I told you.
See this.
After going in this book, where will this transaction go?
In ledger.
What is ledger?
One more register.
In which transaction
is recorded for the second time.
Oh my God.
One more, next step, if we say TB, trial balance.
This is not that TB.
We don't do such bad things in the class.
This is trial balance.
One more register.
In which transaction effect is recorded for the third time.
And one more register, in the last, financial statements.
In which transaction has the last record post.
Has the last record post.
This is nothing.
These are registers that we bought from the market.
Sir, why do we have to write one transaction in so many
registers?
Because friends, this is the beauty of accounting.
This is your accounting.
This is what you have to learn.
Oh my God.
Curtain has moved from behind.
Oh my God.
Save.
Okay.
Save.
This is what you have to learn.
This is our last register.
Financial statement.
What will it give us?
Profit or loss reference.
Assets and liabilities reference.
The last register will give us the purpose of accounting.
The last register will take us to profit, loss, assets,
liabilities.
The last register will take us to the most required
information from accounting.
The last register will serve the purpose of accounting.
That is, profit, loss, assets, liabilities, detection,
calculation, interpretation.
That is, that is, that is.
More, more, more.
Okay, sir.
Okay, okay, okay.
So for that, for that, we have to go through these
registers.
Friends, tell me one thing.
I am here in Faridabad.
Ta-da.
What are you doing in Faridabad?
What am I doing?
Sir, you are singing songs in reverse.
And these songs are going straight to our heads.
And sir, we have closed our ears.
You won't sing again, right?
Otherwise, we won't be able to listen to the next class.
Okay, I promise. I won't sing again.
OK, done.
Now, you demotivate me like this.
You know, I record myself and listen to it.
I feel so good being alone at night.
Look at it with their eyes, you will see the train.
If you look at it with their eyes, I don't know what I will
see.
I will see it now.
Humming That's it.
If I make any more mistakes in this, I will make something
else out of it.
Sorry, sir.
Cough There is only one box in the train? Yes.
Now tell me, what will you do? Now, should I make a train
of 16 boxes and show you?
On the rail, on the rail, 16 boxes on the rail.
In that, there is Mr. Mian, Mr. Mian's black cap.
Black is Mr. Kalman, white is Mr. Hanuman.
Jump, Mr. Bhagwan.
You don't know what I have sung just now.
You can't go far.
If anyone wants to get personal information that, sir, what
was it that you just sang?
Call me personally.
Then I will tell you what it was.
And if some children have reached, then your childhood is
very beautiful.
Your childhood has been very good.
Congratulations.
Now I have to go from this train to Tilak Bridge.
So I can't go directly.
Why? This is not an airplane.
I picked it up from here and threw it there.
It's not a helicopter.
I picked it up from here and threw it here.
I will have to reach there through the stations in between.
For example, after Faridabad comes our Tughalqabad.
Tughalqabad.
Right? And after that comes Okhla.
After that comes Nizamuddin.
And after that comes Tilak Bridge.
I don't know if anyone is left in the middle.
Because at that time, I used to go regularly.
So I knew the stations.
Now if anyone is left, there is no problem.
Then I will reach Tilak Bridge.
So just like that.
Just like that, friends.
The train called Transaction.
If he wants to reach the destination of Profit, Loss and
Assets Liability, then he will have to stop at the stations
of Journal, Ledger and Trial Balance in the middle.
He will have to go through the Journal, Ledger and Trial
Balance and reach there.
Okay Sir.
If you reach Profit, Loss directly from this transaction,
then why does such a big subject become for you?
Then why does something called accounting become?
Why is it so strong?
Why am I sitting here and shouting in front of you?
Although I am not shouting.
I am speaking in Mandi language.
Why am I working so hard in front of you?
Tell me this.
And why are you listening so hard?
Hmm.
Okay Sir.
That's why we have to learn all these steps one by one.
This is also our chapter which we are doing today.
Which we are covering today.
These are all chapters.
All the steps of accounting have been made chapters.
And we have this too.
We have this too.
And we have this too.
All these topics will be discussed in detail in different
videos.
Today is the beginning of Journal i.e. Book of Original
Entry.
Okay Sir.
I hope you have understood the topic very well.
Let's move ahead now.
Let's read some notes.
Wow.
The level chapter is easy.
Super duper easy chapter.
Meaning of a Journal.
Friends.
Sorry.
The notes which we are presenting in front of you.
I am saying it honestly.
It doesn't take much time to shoot such a class.
It takes time to think, write and make these notes.
It takes time to give self-wordings to these notes.
And then to design them and present them in front of you.
There is a lot of hard work behind the scenes.
You see a one-hour clip.
To be honest.
There is 4-5 hours of hard work in it.
Sir, why are you telling us your hard work?
The price of your hard work is being charged by your
organization.
Yes, friends. That's true.
But what I want to show you from here.
This one-hour output has 5 hours of hard work.
So remember.
If you listen to this one-hour well, take it in your grip
and revise it.
Revise it.
Then.
You will get the output of 5 hours.
In one hour and half an hour revision.
This is the main thing.
Okay, sir. We will take care.
Okay. Let's move ahead.
You take advantage of our experience and hard work behind
the scenes.
Utilize the price you have paid fully.
Look at the classes.
It's not the full utilization of the amount paid by you.
After revision and retention of the topic is the ultimate
utilization of the amount and resources you are investing
in this course.
Meaning of a journal.
A journal is a detailed account which records financial
transactions of a business in a chronological order.
What do you mean by chronological order?
Sir, this is a very heavy word.
We've had a lot of problems with it.
Chronological...
Okay, say it with me 10 times.
Chronological order.
Chronological...
I'm stuck.
Honestly stuck.
Mark your homework.
You have to say chronological order 10 times.
If you can't say it, then tell me, sir.
I couldn't say it.
Okay? Okay.
The meaning of chronological order is this much, my friend.
In series means in sequence, the transaction which comes
first, we will write it first.
The next number on the next number, the next number on the
next number.
First come, first serve basis.
Like suppose there is a line in Bhandare.
The one which comes first, that comes first.
Its number, then next, then next, then next, then next.
Similarly, chronological order means, transaction is
recorded date wise.
1st April transaction comes first, 2nd April, 3rd April,
4th April, 5th April, 6th April, then May, then June, then
July, like this.
And in 1st April also, if there are many transactions, then
the one which comes first, that comes first.
1st April, 2nd April, 3rd April, 4th April, 5th April, 6th
April, then May, then June, then July, like this.
Ok Sir.
To be used for the future, reconciling of accounts and
transfer of information to accounting record such as ledger.
And then we use this journal, this book of original entry.
In this, after recording the entry for the first time, this
next book, ledger, is also used to make ledger.
Do you know, the most important and basic thing to learn in
accounting, is journal, that is, book of original entry.
Ledger will be made like this.
You will say, it is a game of left hand, left finger, left
nail.
Trial balance is easier than that.
And financial statement?
While sleeping at night, you will make financial statement
in your dream, like this.
The environment will become so light for you.
Ok Sir.
If you have learnt journal, condition number 1.
If you have learnt journal, it is book of prime entry or
original entry, in which all the transactions are recorded
in the sequence, in which the transaction had actually
occurred. This is the meaning of chronological order.
The transaction which will be recorded first, will be
recorded first, and the one which will be recorded later,
will be recorded later.
How will it be recorded?
You can ask me later.
How will it be recorded?
You can ask me later.
Now, it will be recorded.
For the first time, any transaction, in which book, that
book will be called journal or book of original entry.
This much is being told to you.
This is it.
Meaning of journalizing is the next point.
The process of recording the transactions into journal is
called journalizing.
is the practice of documenting a business transaction in an
accounting record.
This is what is written repeatedly.
We call a book a journal.
In which we record a transaction for the first time.
Sir, you have said this 20 times.
I will say this 30 times also.
Because it will make a foundation of accounts.
I will say this 40 times, 300 times, 400 times.
The first time, the book in which we will record a
transaction, we will call it a journal, i.e.
a book of original entry.
And a process for recording a transaction in a journal, i.e.
a book of original entry, we call it journalizing.
The choreography is called journalizing.
The choreography in which we do the act is called
journalizing.
Work that is being recorded in the register is called
journalizing.
Okay sir, that's very much fine, that's very much cool.
I said thank you.
Characteristics.
What are the characteristics?
Features of the journal.
Book of original entry.
It is a chronological record of financial transactions of a
business.
Sir, you have given 10 homeworks.
We will hear this word chronologically more than that.
Yes, this is the same thing again.
Let's read the second point.
You know the first one.
It is a book of original entry which records all the
details of transactions from various source documents.
The first thing is written here.
It is a book of original entry which records all the
details of transactions.
This is a book in which transactions are recorded for the
first time.
But from where?
From various source documents.
Let's understand this a little bit.
I told you.
What did I tell you?
Transaction will be recorded in the journal.
Okay.
Transaction means any such activity.
Which has a positive or negative effect on the financial
position of the business.
And it also has some monetary value.
For example, buying goods.
Goods will come, money will go.
It will affect the financial position of the business.
And we also have the amount.
We bought goods worth 10,000.
You know how many goods we bought.
Yes.
So this transaction will be recorded in the journal.
But.
This transaction has actually happened.
What do we need for this?
We need proof.
This transaction has actually happened.
There should be proof for this too.
If we are saying.
That we have purchased goods.
We have purchased goods.
For how much money?
For 10,000 rupees.
So this is the transaction.
It will have an entry.
First of all, the journal will have an entry.
Where? In the journal book.
Recording in the journal book.
It is called generalizing.
It is called entering the journal.
Okay.
But.
When we record the transaction here.
So what happened.
We should have proof of this.
The accountant will not listen to anyone like this.
You are the accountant of the business.
You are sitting.
You have taken your tally.
However, we will teach you all these things on the pen and
paper first.
And.
In the basic of accounts.
On the pen and paper.
As I am teaching you now.
Then we will do all these things in the software.
Because.
To understand.
You have to use the pen and paper.
And then you have to go to the software.
Because in the job.
Software will only work.
Software will only work in the job.
You will work on the software only.
In the job.
Yes sir.
Yes.
Okay sir.
Okay.
Neel Kapoor's friend is in the house and outside picture.
He does this again and again.
Okay.
He is a really nice comedian.
He made us laugh in our childhood.
So.
May his soul rest in peace.
He was a really really nice comedian, he made us laugh in
our childhood, so may his soul rest in peace.
Yeah.
Aage badte hain jara, toh iska jo evidence hai, iska jo
evidence hai, wohi kehlata hai source document.
Sir humne goods kharide hain, iska evidence source document
kehlata hai, lekin kya hoga iska evidence?
Ya bill hoga tumhare paas, kaisi kaisi baat karte ho re,
bill hoga tumhare paas, koi saman kharid ke loge, bill nahi
loge kya?
Sir hum toh non-bill wale saman kharidte hain, woh jo tum
pachas rupay ki, jo tum maha se dukaandar se gharne peene
ka saman kharidte ho na, a last mein kyahte ho bhaiya ek
chingam bhi dena, uski baat nahi kar raha ho mai, thek hai,
koi achcha saman, jo accounting mein record ho, uski baat
chal raha hai, thek hai na? Aur agar bill nahi bhi hai, koi
chota mota amount hai, toh har ek ka source document hota
hai, chota mota amount ke liye bhi vouchers bane hota hai,
har cheez available hai, thek
Toh bill jo humare paas hota hai, woh source document hota
hai, accountant ho tum, bethe ho, office mein, aur tumhare
saamne tumhara system hai, aur tum telly mein entry karne
ke liye tayyaar ho, koi manager aaya, keh raha humne
purchase kari, 10,000 ki record kar do, tumne kaha, thek
hai ji kar dete hain, sales manager aaya, usne kaha, humne
sale kari, 8000 ki, apne kaha, thek hai, record kar dete
hain, kal ko wo aa raha hai, toh keh raha hai, nahi nahi,
wo 8000 ki sale nahi tha, wo toh kuch
tha, change karo usko, wo aa raha hai, wo nakal nikal, wo
keh raha hai, wo 10,000 ki tha, main toh tumhe 12,000 bolke
gaye tha, toh main 10 kaise suna, kul mila karke, aise
verbal hi kaam hoga kya?
Aur purchase manager aur sale manager, ek baat batao tum,
wo purchase sale pe dhyan denge, ki har entry ke baad tumhe
phone karenge, ke bhi humne purchase kar liya, recording
kar do, humne purchase kar liya, aap telly mein data chada
do, ye jo general entry hoti hai na, accounting ka first
step, ye telly mein hota hai, wo ye kaam karenge kya?
Wo ye kaam karenge kya, aapko batate ho?
Nahi sir, nahi.
Wo kya karte hain?
Purchase karte rahete hain, jaise purchase ka example lete
hain, purchase manager kya karte hain?
Purchase karte rahete hain, aur purchase ke saare bill lete
rahete hain, jo bhi seller hai, jiste kharid raha hai wo,
purchase manager humara, saamne se bill lete rahete hain,
saare bill khatte karke, aapke paas bhijwate rahete hain,
aapke paas bill aate rahete hain, ab wo bill physical copy
mein aaye, aaj kal zamane mein, whatsapp group pe aa jaye,
seller ko seeda, purchase manager ko whatsapp kar de,
purchase manager aapko kar de, aap ek whatsapp group
banalo, accountant, purchase manager aur
ussi mein aap, ek baar usme seller ne bheja, accountant ke
paas bhi aaya aapke paas, aur purchase manager ke paas bhi
chala gaya, aisa bhi ho sakta hai, aaj ke zamane mein aisa
bhi sambhag hai, haan, to wo, wo document dekh karke aap
entry karoge, wo document dekh karke aap is kitab mein
chadha
hoge, wo document dekh karke aap is kitab mein chadha hoge,
ye baat yahan par likhi hoi hai, aisa hi sales ke liye
sales bill, aur bank se koi payment kariye to bank
statement dekh karke entry karoge, bank mein koi paas aaya
hai to wo bhi bank statement se dekh karke, cash mein koi
payment hai, receipt hai to cash vouchers dekh karke, is
tariki se, entry ka, journal ki kitab mein kuch record
karne ka, ek aadhaar, ek source document, ek saboot, ek
evidence, ek proof hona chahiye aapke paas,
number three, it records both the aspects of a transaction,
that is debit and credit using double entry system of
bookkeeping, ye recording karne ka tariqa ha gaya, ki kisi
bhi transaction ko journal kitab mein record kaise karenge,
third point hold par hai, ye abhi hum dhir dhir seekhenge
jab usko record karna seekhenge, third point keh raha hai,
ki entry ko record karte waqt, journalising karte waqt, is
register mein entry karte waqt, kuch debit karenge, kuch
credit karenge, wo chiz dekhenge
mein kya hai, kya se, fourth point, it gives complete
details of a transaction in one entry, transaction ka poora
viewra, ek hi entry mein, hum lik karke chalte hain journal
ki kitab mein, it forms the basis for transferring the
journalised transaction to the individual accounts known as
ledger account, ye ledger banane mein phir madad karte
hain, since all the transactions are recorded for the first
time in a journal, it is correctly known as book of
original entry, kyun journal ka doosra naam
book of original entry, kyunki pehli baar, pehli baar,
original, original ka matlab hota hai pehli baar, jaha
entry ho rahi hai, us transaction ki wo ye kitab hai
journal ki, isliye iska ek naam rakh diya book of original
entry, je sir thek hai, advantages, wahi cheeze repeatedly
likhi hongi, advantages mein bhi aur kya laga jaayega, it
provide, ek baar fata fat do minute mein padh lete hain, it
provide complete accounting information in a chronological
order, it reduces the chances of error in
recording, since the amount debited can be verified with
the amount of corresponding credit, journal is kitab se,
accounting mein galti hone ke chance bhi bade kam ho jaate
hain, kyunki, hum jab journal entry karte hain, toh jitna
amount debit paksh mein likhte hain, utna hi amount credit
paksh mein bhi likhte hain, toh agar kahin bhi error hai,
toh ye kitab, humare error ke chances ko kam kar deti hai,
kyunki, jitna humein debit karna hai, utna hi humein credit
karke chalenge, third point, it
a base for recording or transferring the entries in the
individual ledger accounts, the ledger main aanein madad
karte hai, it helps in locating the error in case of
disagreement of trial balance, kal ko jo humari journal ke
baar, ledger ke baar, trial balance wali stage hai, trial
balance agar match nahin hota hai, trial balance jab hum
pohuchenge maha tak toh dekhenge, trial balance har case
mein, uski do side hoti hain, ek par ek do, ek debit side,
ek credit side, dono barabar rehni chahiye,
kisi case mein barabar nahi rehti hain, toh is baat ka
sanket hai, ki aapki accounting mein kuch galti hai, kuch
error ho gaya, aur phir, us error ko pata lagane mein bhi,
ye kitab humari madad karte hai, jangal jangal pata chala
hai, error jo hai, wo kahin isme chhapa hai, uske baad, it
provides with the description of transaction that has been
recorded, that helps identify reason for the record, jab
hum journal entry karte hain, journal ki kitab mein, toh
entry record karne ke baad, neeche
likhte bhi hain thoda sa, ki humne entry mein kya kiya hai,
kaunse entry record kariye hai, kya kharida hai, kya samaan
hai, poora bureau likhte hain, isse transaction ki complete
detail present hoti hai, ye bahut achche se presented data
hota hai, ye hai journal entry, thek hai ji, toh ye se dost
humare paas, meaning, characteristics and advantages of
journal, yaani ki uska doosra naam, kids will say with me
once book of original entry let's hope you have understood
see you in next clip with
discussions this was meaning characteristics and advantages
of journal i.e.
book of original entry bye bye for now, thank you