Accountancy: Ledger: Difference between Journal and Ledger (For CBSE, ICSE, IAS, NET, NRA 2022)

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  • In the previous chapters we have discussed about journal, cash book and other subsidiary books in the accounting system. The process of posting, recording the transactions in the book. The books of accounts contain various accounting heads is called ledger. To identify the total volume and value of the transactions the accountant needs to know the particular information relating to a transaction we need ledger.
  • Ledger is the principle book of double entry accounting system. Each account is opened on a separate page to record the transactions. Ledger is having several purposes which are listed as follows:
  • Quick information of various transactions.
  • Helpful in preparing trial balance.
  • Proper control of every transaction.
  • Helps in preparing the financial transactions.
Ledger Account

Difference between Journal and Ledger

Difference between Journal and Ledger Account

Process of Balancing of Ledger Account

Process of Balancing of Ledger Account

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