Payment Journal
A payment journal is a record or log within accounting or financial software that tracks all outgoing payments made by a company, detailing the date, amount, recipient, and purpose of each transaction, thereby providing a clear overview of the company's expenditures.
A payment journal is a type of journal that is used to record payments made by a business. It can be used to record payments to vendors, employees, and other creditors.
A payment journal is like a digital checkbook in accounting and ERP software where a company keeps track of all the money it pays out, showing details like who was paid, how much, when, and what it was for, helping to manage spending and keep financial records organised.