The following are the
advantages of journal;
advantages of journal;
1. Each transaction is
recorded as soon as it takes place. So there is no possibility of any
transaction being omitted from the books of account.
recorded as soon as it takes place. So there is no possibility of any
transaction being omitted from the books of account.
2. Since the transactions
are kept recorded in journal chronologically with narration, it can be easily
ascertained when and why a transaction has taken place.
are kept recorded in journal chronologically with narration, it can be easily
ascertained when and why a transaction has taken place.
3. For each and every
transaction, which of the two concerned accounts will be debited and which
account credited, are clearly written in journal so there is no possibility of
committing mistake in writing the ledger.
transaction, which of the two concerned accounts will be debited and which
account credited, are clearly written in journal so there is no possibility of
committing mistake in writing the ledger.
4. Journal shows the
complete story of a transaction in one entry.
complete story of a transaction in one entry.
5. Any mistake in ledger
can be easily detected with the help of journal.
can be easily detected with the help of journal.
