DIRECT JOURNAL PAYMENT Definition

Bookmark and Share

DIRECT JOURNAL PAYMENT is a payment that is recognized that is not included in the Accounts Receivable ledger, e.g. a double payment on a mortgage that has a monthly payment due and payable will cause a split-payment posting: one in the Accounts Receivable ledger for one half of the payment (principal and interest that is invoiced), with the other half of the payment being posted to the Long Term Loan ledger as a direct journal payment.

Learn new Accounting Terms

PINK SHEETS is a privately owned company whose Electronic Quotation Service provides an Internet-based, real-time quotation service for OTC equities and bonds. The Pink Sheets are not owned or operated by The NASDAQ Stock Market, Inc. or FINRA.

KNOWLEDGE ACQUISITION is the process of acquiring knowledge from a human expert for an expert system, which must be carefully organized into IF-THEN rules or some other form of knowledge representation.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.