Accounting - 7. Posting Journal Entries to the General Ledger

The accounts in a business are kept in a book called a ledger.

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Posting is the process of transferring information from the journal to the ledger accounts.

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Every posting requires the year, month, and day to be entered in the Date column of the ledger account for every transaction.

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Every journal entry requires a posting to at least two accounts.

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If a transaction is journalized on the 6th, but not posted until the 8th, the date of the posting should be the 8th.

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If an account has a zero balance, it is not necessary to list it on the trial balance.

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A ledger is sometimes called a book of "final" entry.

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Ideally, all businesses should post on a daily basis; however, businesses having few transactions may post only once a week.

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An example of a transposition error is writing the number 45 when you should have written 54.

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If you discover an error before posting, a correcting entry is required.

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