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Difference between a journal and a ledger

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Reference no: EM13828300

Difference between a journal and a ledger and also that you understand these are two separate items.

When it asks you to journalize transactions you will want to create a journal with journal entries. (I attached the beginning of the one you will need for one of the exercises to help you get started in the assignment section).

When your assignment tells you to create a ledger and post your transactions, you will want to make sure that you post all the transactions being careful to make sure your amounts are in the right columns. Remember the video---debits on the left and credits on the right.

When doing your journal entry, always list the debit(s) first on the first line(s) and the credits will follow on the line or lines after your debits. It is a good idea to make sure your debit column matches (or balances with) your credit column in the journal prior to posting to the ledger.

Can anyone think of additional tips you would like to share that might help others in learning these initial steps?

Reference no: EM13828300

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