Difference Between Ledger and Journal: Learning Objectives: What is the difference between ledger and journal? The journal and the ledger are the most important books of the double entry system of accounting. Following are the points of difference between these two types of books:
A chronological account of events in successive years.
Definition and Explanation of Ledger: Learning Objectives: Define and explain the term “ledger” What are the features or characteristics of ledger? When all the transactions of a given period have been journalised, the next thing is to classify them according to the accounts affected.