The place where the information relating to an element is
collected/available is a Ledger. Each accounting element has a
specific identity in the ledger and is known as a ledger account.
Every Ledger posting should have a journal support i.e. the information flows into the ledger from/through a journal. There is no ledger without a journal.
Recording the accounting transactions into the journal and posting them into the ledger form the core tasks carried on regularly in relation to the accounting process. However these are not the only tasks that exist in relation to an accounting system/process.
Every Ledger posting should have a journal support i.e. the information flows into the ledger from/through a journal. There is no ledger without a journal.
Recording the accounting transactions into the journal and posting them into the ledger form the core tasks carried on regularly in relation to the accounting process. However these are not the only tasks that exist in relation to an accounting system/process.
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