A General Ledger journal entry is the record of financial transactions that have occurred within a company. It can be a complex, systematic process wherein each transaction is manually entered into the journal in order to keep track of assets and liabilities, income and expenses, equity and more. Additionally, these entries also allow management to review financial performance compared to predetermined goals and forecasts. Journal entries are reliable evidence of business activity, and are integral to the accounting process. Simple yet powerful, the journal entry is an invaluable tool for understanding the financial health of any business.