difference between general ledger and journal
Time Frame. One big difference between a general ledger and a combination journal is the amount of time each covers. A general ledger provides financial information from all journal accounts on a periodic basis, typically monthly, though some ledgers are compiled weekly, quarterly or annually. Entries into combination journals are recorded as each financial transaction occurs, and either updated immediately or at the end of each business day.
The journal is the main and primary account recorder, while the ledger is more of a secondary account recorder. 2. The journal is the prime entry, while the ledger is the final entry.