DIFFERENCE BETWEEN JOURNAL AND LEDGER

JOURNAL	LEDGER
Journal is the book of first or original entry. It is also called the Book of first entry	The ledger is the Book of second entry
Transaction in the Journal will be recorded Immediately	Depending upon his conveniences the trader Records of the transaction in the ledger
When once the entries are posted to ledger the Journal Looses its Importance	It will never Loose importance as it is the main book of Accounts which is relied upon permanently
In the preparation of final A/Cs Journal is not useful	In the preparation of trial balance and final A/Cs Ledger is a must
The tax authorities generally may not depend on Journal	In the finalization of income tax to be paid, the tax authorities depend on ledger.