Journals record individual transaction line details with no summarization so that full details are recorded. Those details enable very detailed reporting and reporting on an ’as of day’ basis. Ledgers on the other hand contain some level of summarization. At a minimum, transaction identification and line numbering details are removed. Other summarization is also likely on a time basis, Chart of Account information, and a limited amount of accounting details.
Two types of journals exist in the application, with each being populated in real-time by transaction processing. Most journals are populated from a level of detail in accounting transactions called Posting Lines. One or more Posting Lines are created for each Accounting Line that are non-zero. There are a few journal that are populated by Component and Commodity Lines.