| JOURNAL | LEDGER |
| It is subsidiary book | It is main or principle book |
| This is book of original | This is book of final entry |
| Its is daily record transactions are recorded in this book in the chronological order | Posting is done periodically may be weekly fortnighty or monthly |
| Entering the transaction in the journal is called journalising | The act of recording entries in ledger called posting |
| Journal gives information in the form of entries | Ledger contains information in the form of accounts |
Friday, 23 January 2015
DIFFERENCES BETWEEN THE JOURNAL AND THE LEDGER
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Do you know that there are over 18 differences between journal and ledger in accounting.
ReplyDeleteThe main one would be,
- Journal is a subsidiary book of account. It is the store house of recording transactions.
- Ledger is the permanent and final book of accounts. It is termed as the means of classified transactions.
This sums up what journal and ledger is all about and shows all there difference of practice and use.