[GNC] How to find the transaction entered one minute ago

[Michael or Penny Novack]

>> In my copy of GnC it is called "General Journal".  My wife, the
>> accountant of the family, agrees that the correct terminology is "Journal".

Yes, especially if only one (of each) just "journal" and "ledger". BUT 
there usually was not just one of each, hence "general" for the all 
encompassing ones)

Why more than one of each? A little history. Let's go back a century or 
two, imagining how a general merchandise business might have operated. 
Out front, a desk with a cashier. All through the day, customers come in 
making purchases. So the cashier is recording "cash" and "sales" << also 
recording what sold, but lets ignore that for now >>

This COULD first be in a journal and then posted to a mini-ledger with 
just "cash" and "sales". But this is a good example where more likely 
"cashbook accounting", no journal, transaction entered directly in the 
ledger (like we do with gnucash when the transaction has only two accounts.

At the end of the day, the cashier totals the columns. Then verifies the 
amount in the cash box matches what it should be (reconciles). Then 
removes from the box the amount of cash being sent to back room and 
enters that transaction and closes sales for the day sending that number 
to the back room along with the cash.

In the back room, the bookkeeper enters one transaction to debit the 
cash  going into the safe and credit sales for the days total into the 
"general journal" and posts that to the "general ledger"

<< I am ignoring that PROBABLY the cashier starts each day with an 
amount in the cash box so as to be able to make change, and might during 
the day have to ask the back room for more change.  >>

In other words, all the tiny details of each sale during the day NOT 
entered in the "general ledger". If the back office wants an answer to 
"did X come in  to buy those widgets he asked us to stock for him?" they 
don't look in the general journal but in the cashier's records.

Michael D Novack