Hi, in this video, I am going to explain how to make a journal entry. But before that, you need to have a basic idea about journals. A journal is a detailed record of all transactions, including the accounts debited and credited, as well as the amount of each transaction. In Germany, it is called the "Buch der Ursprünglichkeit" or the book of original entry, where transactions are recorded in a chronological order according to the principle of double-entry system. The double-entry system in a journal requires two lines - the first line refers to the debit and the second line refers to the credit. In a journal, both the debits and credits must be equal, which is called the double-entry system. The journal serves as the original book of entry where all transactions, whether it is a one rupee or one crore transaction, need to be properly recorded. Only after making a journal entry can you proceed to the ledger and trial balance, and finally, prepare the final accounts. Without a journal entry, it is not possible to proceed with any accounting process. The journal is the primary source where you can find all the transactions, so it is crucial that all transactions are properly and systematically recorded in the books of accounts. To make a proper journal entry in a systematic manner, you need to follow a few steps. I am going to explain four steps that will give you a clear-cut idea of how to make journal entries. The first step is to identify the two accounts involved in the transaction - one for debit and one for credit. For example, if you take the transaction of salary paid, the two accounts involved are salary and cash. Next, classify the identified accounts as either real accounts, personal accounts, or nominal accounts....