Grunnbok

Grunnbok is the term used in Norwegian accounting for the book of original entry, a chronological record of all financial transactions in a business. Each entry in the grunnbok records the date, a brief description or reference to the source document (invoices, receipts), the accounts affected, and the amounts debited and credited. The grunnbok supports double-entry bookkeeping, ensuring that total debits equal total credits for every transaction.

In standard practice, the amounts posted in the grunnbok are subsequently posted to the hovedbok, the general ledger, which aggregates balances by account. The grunnbok thus serves as the primary source for auditing and verification and provides an audit trail linking transactions to source documents.

Entries in the grunnbok typically include sales, purchases, cash receipts and payments, and adjustments. The structure often includes fields for date, reference number, description, account numbers, debit and credit columns, and a running balance. In modern accounting software, the grunnbok is maintained electronically as the journal, while the hovedbok is updated automatically or through postings from the journal.

Compliance and usage: Records must be kept according to applicable accounting and tax laws, with retention periods and documentation requirements varying by jurisdiction. The term grunnbok is mainly used in Norwegian accounting and may be contrasted with hovedbok, the ledger, which presents the summarized balances.