Question

What are the advantages of journal

Answer 1

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Advantages of Journal. Journal provides records of all business transactions in one place on the time and date basis. All transactions are recorded on the basis of receipts or bill, so we can check authenticity of each journal entries with their bills.

Answer 2

Answer:

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The advantages of journal are as follows :--

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2. convenience :-

When a is maintained , there is no need to make immediate entries in the ledger the firm can post entries in the ledger as and when convenient.

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3.Double entry :-

Journal helps to ensure that the basic rule of double entry -"every debit must have an equal credit "-is observed.

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4.Reliable evidence :-

Generally courts accept journal as a legal evidence in a case of over a transaction.

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