Interested to Buy Any Domain ? << Click Here >> for more details...
What is the difference between ledger and journal?
- 3 Answers
- 11467 Views
- I also Faced
- E-Mail Answers
Answer Posted / 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 |
Post New Answer View All Answers
Tell me how much statistics knowledge is necessary or required in accounting?
What is project implementation?
total assets are equal to total liabilities in final accounts ?why?
can i direct payment made t code f-53 to bsnl agst telephone exp.? or 1st create a/c.of bsnl and book in fb60 then payment made whose correct?
What are the characteristic features of financial accounting?
Explain me what makes a successful account manager?
Explain what is double-entry accounting? Explain with an example?
Tell me what are the key tasks for account executive?
why are accounting firms needed?
Hi.. I am pursuing my MBA II year thrgh distance frm O.U HYD., Pls let me know any jobs...in Bank jobssssss
Tell me did you use accounting applications at your previous companies or prefer working manually?
export sales contract and domestic sales contract? india's trade in commercial services?
Regarding vat return,I have 3 units can i return at a time for 3 units vat return only one vat form. Kindly suggetion the same how to do.
what is difference between budgeting and Forecasting
List of Indian accounting standards and international financial reporting standards
