What is the difference between ledger and journal?
- 3 Answers
- 10104 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Journal is a book of primary entry, where as Ledger is a
book of secondary entry. All transactions are entered
through journals by type such as Purchase Journal, Sales
Journal, Payments, Receipts, Debit Notes, Credit Notes,
General Journal, etc. These transactions are then
transferred to Ledger which have full all transaction
details for each revenue(income) A/c, Expense A/c, Customers
A/cs, Vendors A/cs and all Assets & Liabilities A/cs.
In manual system of accounting, transactions are entered in
journals first & from there they are posted to concerned
ledger accounts. Where as in computerised accounting system,
transactions are getting recorded in journals & ledgers
simultaneously.
| Is This Answer Correct ? | 22 Yes | 2 No |
Answer / hasan khan
Ledger is a summarise record of a specific account, while
journal is a day to day transactions record.
| Is This Answer Correct ? | 12 Yes | 10 No |
Answer / mohan
journal is a starting point of ledger where we we can see
all tranjactions of the f.y
| Is This Answer Correct ? | 2 Yes | 0 No |
What are the steps involved in project implementation?
are tpt, freight & packing charges part of sales & purchase ??
PRELIMINARY EXPENSES INCURRED IN THE YEAR OCTOBER 2012 MONTH 5LAKS WHICH ACCOUNTED IN ASSET SIDE AS ''PRELIMINARY EXPENSES''... IN YEAR END MARCH 2013, IN 5LAKS HOW MUCH AMOUNT SHOULD TAKE FOR PRELIMINARY EXPENSES WRITTEN OFF..?
what is the difference between financial accouning and financial management
how will be the entry of outstanding salaries in receipt & payment account, income & expenditure & balance sheet
What is the purpose of preparing BRS? What are the uses?
What are the types of liabilities accounts?
Tell me by saying, perpetual or periodic inventory system; what do we mean?
What will be the Journal Entry for this? Purchases goods from vendor worth Rs.20000.VAT included 4%.
When their is one pick point and four unloading places with in same district their is need to write four number of way biils
previous year tax adjustment (i.e. short/excess provision) on completion of its assessment in current year should be shown in p&l a/c or p&l appro.a/c?
PAID TO SALARY FOR JASIL 1500.JASIL LOAN 500
Audit 
