what is the difference between JOURNAL ENTRY & LEDGER
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Answer Posted / rahul.k.a
JOURNAL :-
* Transactions are recorded first in the journal.
* Balancing is not done in the books of original entry.
* The process of recording entries in the books of original entry is called JOURNALISING.
* There is no uniformity in the keeping of various books of original entry.
LEDGER :-
* Transactions recorded finally in the ledger.
* Transactions are recorded in an analatical manner.
* All ledger accounts are balanced.
* The process of recording entries in the ledger is called posting.
* There is uniformity in the keeping of the ledger.[ there are two equally divided sides ]
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