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Difference between Journal and Ledger

Some of the students who have science background but now they are making career , are confusing between journal and ledger . So , I am teaching you what are the basic difference between journal and ledger . To know difference between journal and ledger is also important for your grips on accounting basic fundamentals .

Differences between Journal and Ledger

  1. Journal and Ledger are both used for recording transaction in manual accounting . But first we record transaction in journal . Its other name is also day book or routine book . But Ledger is the books in which different accounts are contained .
  2. After making journal , every journal entry is transferred to different accounts . Rule is that Debit account will be transferred to the credit side of credit account and credit account will transferred to debit side of debit account in ledger . So , journal is base of creating the accounts of ledger .


3. Most of accounting software has given ledger creation option , it means , in computer accounting , accountant has to create all ledger accounts first and after this pass only journal entries in journal book . In computer accounting , we know it Voucher book or Accounting vouchers . After this accounting software automatically transfer amount in relating accounts by finding its debit or credit side . In other words , making of journal is most important both in manual and computer accounting . Mistake in making of journal means mistake in final result of accounting .
4. In journal , accountant pass the journal entries on the basis of three rules of double entry system . But this rule is not apply while we creating ledger's account . But if accountant has passed the journal entries according to double entry rules , then we can calculate correct closing balance of accounts in ledger because journal entries' direct effect will be on accounts of ledger .
5. In manual accounting , cash book is that subsidiary book which cover journal and ledger because system of passing journal entries and posting effect will automatically cover in cash book . So , there is no need to pass the journal entries relating to bank and cash and also there is no need to make bank or cash account .

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Accounting Education: Difference between Journal and Ledger
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