However there is no such difference in journal vouchers. Thus to check if the debit or credit amounts you record in the ledger are accurate you need to prepare. Closing Entries Definition Types And Examples 100000- was deposited in SB BANK Fixed Deposit AC Dr 100000 To SB BankAC 100000 Being fixed deposit was done in SB Rules for passing Journal entry Debit Fixed deposits are treated as non-current asset or current asset is depended on maturity period if maturity period is less than one year from the date of. . Verify that all entries that should have been entered actually were entered. Journal entries can be simple ie one debit and one credit or compound ie one or more debits andor more credits. A reversing entry is a journal entry made in an accounting period which reverses selected entries made in the immediately preceding period. Adjusting Journal Entry. Journal entry is recorded in the journal ie the primary books of