What are the three categories in which entries can be classified while making voucher entry?

The three categories are : 1. Opening entries : In order to begin the new financial year, balances of accounts of previous year are brought forward. For this opening entry in the Journal is recorded. These are the balances which are transferred from the books of previous year to the books of present year. 2. Closing entry : These are the entries which are required to complete trading account and profit/loss account. These are known as closing entries because their effect is to close the books of account for the year concerned. 3. Adjusting entries : These entries are recorded to relate the figures to the trading period. These include prepaid and paid in advance expenses and received in advance and accrued incomes