POSTING and GENERAL LEDGER

General Ledger and Their Uses

Example:


 

Types of General Ledger

Balance column account

• There is a column for debit posting
• A column to show the balance of the account if it’s a debit balance
• A column to show te balance of the account if it happens to be a credit balance

POSTING

1. Posting is the transfer of accounting information from a journal to a ledger
2. This procedure is necessary in order to gather together the effects of business transactions on each type of asset, liability, and capital account.   
3. At the end of a time period, summary totals of this account information can be compiled for use in the preparation of a trial balance and financial statement

Download all file