Posting to a General Ledger

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Chapter 4

• Posting to a General Ledger

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10. Ledgers and posting
page 92 - 93
Ledger a group of accounts General ledger a
ledger that contains all accounts needed to
prepare financial statements Account number
the number assigned to an account File
maintenance the procedure for arranging
accounts in a general ledger, assigning account
numbers, and keeping records current
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page 57
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Opening an account
page 94
Opening an account writing an account title and
number on the heading of an account
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(No Transcript)
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11. Posting to a Ledger
page 96
Posting transferring information from a journal
entry to a ledger account

• 5 steps to posting
• Write the date (ledger) remember year for 1st
  entry
• Write the journal page number in Post Ref.
  (ledger)
• Write the current debit/credit amount (ledger)
• Update the balance (ledger)
• Place the account number in journal (journal)

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POSTING AN AMOUNT FROM A GENERAL DEBIT COLUMN
page 96
1. Write the date.
4. Write the new account balance.
2. Write the journal page number.
5. Return to the journal and write the account
number.
3. Write the debit amount.
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POSTING A SECOND AMOUNT TO AN ACCOUNT
page 97
1. Write the date.
4. Write the new account balance.
2. Write the journal page number.
5. Return to the journal and write the account
number.
3. Write the debit amount.
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POSTING AN AMOUNT FROM A GENERAL CREDIT COLUMN
page 98
1. Write the date.
4. Write the new account balance.
2. Write the journal page number.
5. Return to the journal and write the account
number.
3. Write the credit amount.
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CHECK MARKS SHOW THAT AMOUNTS ARE NOT POSTED
page 100
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POSTING THE TOTAL OF THE SALES CREDIT COLUMN
page 101
1. Write the date.
4. Write the new account balance.
2. Write the journal page number.
5. Return to the journal and write the account
number.
3. Write the column total.
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POSTING THE TOTAL OF THE CASH DEBIT COLUMN
page 102
1. Write the date.
4. Write the new account balance.
2. Write the journal page number.
5. Return to the journal and write the account
number.
3. Write the column total.
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POSTING THE TOTAL OF THE CASH CREDIT COLUMN
page 103
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1. Write the date.
4. Write the new account balance.
2. Write the journal page number.
5. Return to the journal and write the account
number.
3. Write the column total.
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Correcting entry
Correcting entry a journal entry made to
correct an error in the ledger Nov. 13 - A cash
payment of 140.00 for advertising on October
15th, 2011 was debited in error to miscellaneous
expense M15