Difference between a Purchase Book and Purchase Account: Purchase BookPurchase AccountIt is part of the journalIt is part of the ledgerIt does not have a debit and credit columnSince it is part of the ledger, it has a debit and a credit columnPurchase Book balance is posted to the Purchase AccountThe balance from the Purchase Account is posted to the Trading AccountOnly credit purchases are recordedAll cash and credit purchases are entered into this account after journal entries are made for them