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Posting to a General Ledger
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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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page 94
Opening an account – writing an account title and number on the heading of an account
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page 96
Posting– transferring information from a journal entry to a ledger account
5 steps to posting1. Write the date (ledger) – remember year for 1st entry2. Write the journal page number in Post Ref.
(ledger)3. Write the current debit/credit amount (ledger)4. Update the balance (ledger)5. Place the account number in journal (journal)
7 LESSON 4-2
1. Write the date. 4. Write the new account balance.
2. Write the journal page number.
3. Write the debit amount.
5. Return to the journal and write the account number.
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8 LESSON 4-2
page 97
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1. Write the date. 4. Write the new account balance.
2. Write the journal page number.
3. Write the debit amount.
5. Return to the journal and write the account number.
9 LESSON 4-2
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1. Write the date. 4. Write the new account balance.
2. Write the journal page number.
3. Write the credit amount.
5. Return to the journal and write the account number.
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10 LESSON 4-3
page 100
Check mark indicates that amounts ARE NOT posted individually.
Check mark indicates that amounts ARE NOT posted individually.
Check mark indicates that general amount column totals ARE NOT posted.
Check mark indicates that general amount column totals ARE NOT posted.
11 LESSON 4-3
page 101
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1. Write the date. 4. Write the new account balance.
2. Write the journal page number.
3. Write the column total.
5. Return to the journal and write the account number.
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12 LESSON 4-3
page 102
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44
1. Write the date. 4. Write the new account balance.
2. Write the journal page number.
3. Write the column total.
5. Return to the journal and write the account number.
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13 LESSON 4-3
page 103
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44
1. Write the date. 4. Write the new account balance.
2. Write the journal page number.
3. Write the column total.
5. Return to the journal and write the account number.
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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
