Explanation:

A journal is a detailed account that records all the financial transactions of a business, to be used for the future reconciling of accounts and the transfer of information to other official accounting records, such as the general ledger. A journal states the date of a transaction, which accounts were affected, and the amounts, usually in a double-entry bookkeeping method.
Journaling is an essential part of objective record-keeping and allows for concise reviews and records-transfer later in the accounting process. Journals are often reviewed as part of a trade or audit process, along with the general ledger.

Typical information that is recorded in a journal includes sales, expenses, movements of cash, inventory, and debt. It is advised to record this information as it happens as opposed to later so that the information is recorded accurately without any guesswork at a later date.