Page 2 - Lesson Note

i) Date: This column basically depicts the date on which that transaction took place.

ii) Particulars: This shows the name of the relevant account which the transaction
effects.

iii) JF (Journal Folio): This column denotes the page number on which
the journal entry was passed.

iv) Amount: This column basically shows the amount associated with every entry.

 Difference Between journal and ledger

Journal Ledger

1. Journal is a subsidiary book of Ledger is the permanent and final
account. It is the storehouse for book of accounts. It is termed as the
recording transactions. means of classified transactions.

2. Transactions are recorded in the Transactions are posted in the ledger
journal in chronological order of in classified form from the journal.
dates just after their occurrences.

3. Transactions are recorded in a Transactions are recorded in the
journal without considering their ledger in classified form under

nature of classification. respective heads of accounts.

4. In journal explanation of entries of In ledger explanations of entries of
the transaction are shown.(Narration) transactions are not needed.

5. The format of the journal contains Generally, the ledger account of ‘T’
five columns. form contains eight columns – four in
left and four in right.

6. Journal helps in preparing ledger The object of the ledger is to know

accounts correctly. income and expenditures of different
heads.
7. The total results of transactions Results of the particular head of

cannot be known from the journal. accounts can be known from the