What is the Journal of Economic Operations?
All economic transactions, without exception,committed in the process of the enterprise, must be fixed in a special regulation. It is called the Journal of Economic Operations. This document defines the algorithm for reflecting transactions in the accounting and tax accounting system 1C.
The first is the formation of data on economicactivity of the company, its property. And the information should be as complete as possible and have a high degree of reliability. These data are necessary not only to the management of the enterprise, specialists, but also to creditors, as well as investors.
The second important task is the provision ofexternal, and internal users of reporting with timely information. The above provision is necessary for exercising control over the compliance of the enterprise with the current legislation.
The third task is to preventoccurrence of negative tendencies in the activity of an economic entity, obtaining information on the available potential and reserves, and preparing a forecast of financial results.
Business transactions. Their types
Any operation has an impact on the enterprise. There is either a change in the sources of information of the property, or its magnitude. There are situations when both the first and the second occur simultaneously. That is why the Journal of Economic Operations is extremely important. So, there are four basic types of operations. Classification is carried out depending on how they affect the size of the passive and active part of the balance sheet.
These operations directly affect the composition of the property of the business entity. In other words, they only affect the asset. At the same time, the balance currency remains the same.
This type of operation is the opposite of the first. In this case there is a change in the sources of education of the company's property. That is, the passive. Nothing happens with the currency either.
In this case there is a changesize and sources of property formation. These are exclusively positive trends, that is, an increase. The balance currency also increases, both in the active and passive parts.
The latter kind of operations also affects both parameters, but already in the direction of reduction. The balance currency is reduced by the same amount in both the passive and active parts.
From what is shown above, we can make the followingconclusion: The Journal of Economic Operations is an important document that allows to unify and systematize information about the activities of the enterprise, provides easier access to data, which is important for making managerial decisions.