Difference Between Ledger and Journal

Difference Between Ledger and Journal

JOURNAL


* Journal is the book of prime entry.

* As soon as transaction originates it is recorded in journal.

* Transactions are recorded in order of occurrence.

* Narration is written for each entry.

* Ledger folio is written.

LEDGER


* Ledger is the book of final entry.

* Transactions are posted in the ledger after the same have been recorded in the journal.

* Transactions are classified according to the nature and are grouped in the concerned account.

* Narration is not requried

* Folio of the journal or sub-journal is written.