Journal entries are the double entries which are made with each accounting transaction. Journal entries are very important for keeping accounting records. Basically different ledgers are made for different accounts. The debit entries are made if the accounts are assets and there is an increase in assets or if they are liabilities and there is a decrease in liabilities. Similarly, if liabilities are increasing, then credit entries are made on the ledgers of liabilities and if assets are decreasing then credit entries are made in the ledgers. When the balances of all the ledgers are summed up then it is known as atrial balance. Basically for every debit entry there must be a credit entry in the ledger accounts. This keeps the debit and credit balance equal to each other. Therefore, when all of the balances are summed up and debit and credit are not equal then errors can be identified.
The difference among all these three is that in Journal entries you make a separate accounting entry for each transaction you make. In Ledger you have to make different accounts for all the same transactions like you can make a sales account ledger and whenever you will make sales, you will enter credit or debit entries in the same sales ledger. On the other hand, a trial balance contains two sections, where all debit and credit entries come regardless of which ledger they belong.
The difference among all these three is that in Journal entries you make a separate accounting entry for each transaction you make. In Ledger you have to make different accounts for all the same transactions like you can make a sales account ledger and whenever you will make sales, you will enter credit or debit entries in the same sales ledger. On the other hand, a trial balance contains two sections, where all debit and credit entries come regardless of which ledger they belong.
