The log is a detailed record of all transactions made by the business.
Reconciliation of accounts and transfer of information to other accounts is performed using the information recorded in the log.
When a transaction is logged in the company log, it is usually logged using the double entry method, but can also be logged using the single entry method.
the double entry method reflects changes in two accounts after the transaction; increase by one and decrease by the corresponding account.
Unified accounting is rarely used and records changes in only one account.
Journal is also used in the financial world to refer to a trading journal that details the trades made by an investor and why.