Ledger and journal book
Write down the relation between ledger and journal book?
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i) The journal is the book of primary entry whereas the ledger is the book of secondary entry.
ii) The journal as a book of source entry generally has superior weight as legal evidence than the ledger.
iii) The journal is the book for chronological record while the ledger is the book for analytical record.
iv) The unit of categorization of data in the journal is the transaction; in the ledger the unit of categorization of data in the ledger is the account.
v) The procedure of recording in the journal is termed as journalizing, the procedure of recording in the ledger is termed as posting.
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