7 Benefits of Keeping a Success Journal
How many times, at the end of your day have you gotten ready for bed, laid your head on your pillow, replayed the events of the day and thought, “I wish I had done this” or “maybe I should have done that?” More often than not our focus turns to what we didn’t get done that day rather than what we did accomplish.
Early in my career, my business coach encouraged me to realistically and briefly recap my successful accomplishments to date. I reached back to my post-school days and found that this exercise was very powerful for me and marked the beginning of positive ritual I practice to this day.
Tracking business activity with T accounts would be cumbersome because most businesses have a large number of transactions each day. These transactions are initially recorded on source documents, such as invoices or checks. The first step in the accounting process is to analyze each transaction and identify what effect it has on the accounts. After making this determination, an accountant enters the transactions in chronological order into a journal, a process called journalizing the transactions. Although many companies use specialized journals for certain transactions, all businesses use a general journal. In this book, the terms general journal and journal are used interchangeably.