Community Web Version Now Available
Loren
What is the difference... What is the difference between "journal entries " and " General ledger ". Thanks!
14 oct. 2016 15:50
5
0
Answers · 5
This is Accounting 101... Journal entries are for purchases, sales, amortization, etc. in other words, they are credits and debits, which then must balance. These are transferred to the general ledger. This is highly simplified but it's all I can recall from my college business classes. Maybe someone else can provide more.
14 octobre 2016
A journal is another word for a diary. A ledger is used in business for accounting for cash and sales. Journal - https://en.oxforddictionaries.com/definition/journal Ledger - https://en.oxforddictionaries.com/definition/ledger
14 octobre 2016
A journal entry is more personal, like thoughts expressed in a diary. A general ledger is more for accounting purposes, like annotating that you spent $100 for groceries, received $20 for mowing someone's lawn, etc.
14 octobre 2016
Loren
Language Skills
English, French, Portuguese
Learning Language
English, French