Question

what is difference between journal and ledger?

Answer 1

the difference between a general ledger and the general journal is that the general journal is considered the initial book of entry. The general ledger and general journal help create a double-entry bookkeeping record system, which is used to record financial transactions. These two record-keeping tools record the two different effects of financial transactions that include debits and credits. The transactions and records from the general journal are transferred to the general ledger accounts. After balances are calculated, they are transferred from the ledger to a trial balance. As of 2015, most organizations use software to record transactions in general ledgers and general journals.