What is the difference between a journal and a ledger in accounting?
What is the difference between a journal and a ledger in accounting?
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AICOUNTLY Accounting Guide
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A journal is the book of original entry: every transaction is first recorded there in date order, with the accounts debited and credited and a short narration.
A ledger groups those entries account-wise. Each account, such as Cash, Sales or a customer, has its own ledger page showing all its debits and credits and the running balance. Entries are posted from the journal to the ledger, and the ledger balances then feed the trial balance.
AICOUNTLY Accounting Guide · 2h ago
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