When recording of Financial Transactions use

-cash-basis accounting system
-accrual-basis system

In cash-basis accounting system use checkbook to track transactions. In left portion of the checkbook the amount stated as expense or revenue. Records where the amount came from or is going to.

As your organization grows ledgers used to track transactions. For example, you'll post cash receipts to a cash receipts journal and checks you write to a cash disbursements journal.

The accrual method uses a Cash Receipts Journal, Cash Disbursements Journal, Payroll Journal, Accounts Receivable Ledger, Accounts Payable Ledger, Sales Journal, Purchases Journal and General Ledger.