Sales Journal
Accounting glossary · Understand, connect, apply
A sales journal is a special journal for a defined class of credit sales, commonly merchandise sales on account in an introductory system.
Example
A $450 credit sale is recorded in the sales journal, with customer detail posted to the receivables subsidiary ledger.
Remember the difference
Cash sales normally go into the cash receipts journal. A perpetual system also records the inventory cost effect.
Examples are simplified for learning. Where a term depends on US law, IFRS, US GAAP or a historical rule, check the context explained above and the requirements relevant to your course.
Study references: OpenStax financial accounting and managerial accounting. For reporting requirements, consult the applicable IFRS Standards or FASB guidance. US tax terms should be checked against the relevant tax-year IRS instructions.
← Return to the accounting glossary