Answer added by Soliman Abd ALmalak Gendy, مدير ادارة مراقبة حسابات , الجهاز المركزى للمحاسبات3 years ago
AS we know,after we made journal entries ,the next step is to post the journal enrries into th Ledger.
– POSTING TO THE LEDGER IS CLASSIFING PHASE OF accounting.
-We go to the Ledgerand post the amounts debited and credited to the appropriate side.
-Debits go to the left side and credits to the right .
– A General Ledger contains accounts that are broad in nature succh as Cash,Acconts Receivable,Supplies.
its called Posting.
Entries what we have written in Journal is getting Posted/Closed in to Concern ledger.
1. Journal entry is legal ?
2. Duly approved
3. if system generated, is by the relevant source (Dept)
4. Contents of the entry clear and source is authenticated
5. transfer to Ledger same day
The process of transferring entries from the journal to the ledger is commonly known as posting.After journal entries are made,the next step in the accounting cycle is to post the journal entries into the ledger. Posting refers to the process of transferring entries in the journal into the accounts in the ledger. Posting to the ledger is the classifying phase of accounting.
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