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.

Answer / hasan khan

Ledger is a summarise record of a specific account, while
journal is a day to day transactions record.

Answer / mohan

journal is a starting point of ledger where we we can see
all tranjactions of the f.y

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2 Answers   Wipro,

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0 Answers   Banking,

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2 Answers  

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0 Answers   Supraveni Chemicals,

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how to show provident fun in balance sheet

4 Answers   Genpact, WBCS West Bengal Civil Service,

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3 Answers   Accenture,

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How is the accounting for hire purchase transactions done?

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1 Answers  

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