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New To NetSuite | Statistical Journal

edited Jun 3, 2025 1:59PM in Basic Accounting

Statistical Journal Entries are a special type of accounting entry used for specific purposes. These entries are designed to record transactions that are one-sided, meaning they don't involve a direct exchange of money or assets. Instead, they are used to track and analyze data by categorizing it into different classes, departments, or locations. Statistical Journals are unique because they only have a positive or debit amount, and there's no need for them to be balanced. While they don't require balancing, you have the option to balance them against a special account called a "statistical balancing dummy account" if you prefer to maintain

Ayitah Tallada | General Accounting and Asset Management

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