Singh Arjun In: Category - Accounting OthersIs cash book both a journal and ledger?cash bookjournalledger ShareFacebook1 AnswerVotedRecent Palaktripathi 2020-08-08T15:52:59+05:30Added an answer on August 8, 2020 at 3:52 pm Yes, the cash book is both a journal and a ledger. To make the concept simpler, I would like to familiarize you with the meaning of journals and ledgers, which shall help in determining the reasons for a cashbook to be both a journal as well as a ledger.JournalA journal is a descriptive financial record of a business that is used for future reconciling as well as a transfer to other books of accounts such as the ledger. It is a book of original entry.Cashbook is considered to be a journal because all the cash/bank receipts and payments are recorded in this book in a descriptive form similar to journal posting.LedgerIn simple words, a ledger refers to recording individual accounts in a summarized form that are posted from a journal. It is a book of principal entry.A cashbook is considered to be a ledger because all the cash transactions that are made during a particular financial period are recorded in this book in a chronological order. When a cashbook is prepared there is no need for a cash a/c as the book serves the same purpose and therefore can be used as a substitute.Format of a CashbookCashbookDateParticularsV.No.L.F.CashDateParticularsV.No.L.F.Cash To Capital a/c By Advertisement a/c To Sales a/c By Purchases a/c To Mr. C’s a/c By Stationery a/c To Bank a/c By Office expenses a/c By Rent a/c By Salary a/c By balance c/d Note: As we can see the format and posting of a cashbook are similar to that of journal and ledger accounts.Hope this helps.0Reply Share ShareShare on FacebookShare on TwitterShare on LinkedInShare on WhatsAppLeave an answerCancel replyYou must login or register to add a new answer.