Technique Of Posting Being Illustrated(Part2)

Earlier article discussed what is posting and its salient points

This article gives some illustrations/scenario pertaining to posting to enable the reader to enhance his/her knowledge.

Posting From General Journal to Three Column Ledger Accounts

Given below the answer to the journal to recording the following transaction:

• On 23/2/07, Company XYZ bought an Office Equipment which cost $5,000 cash.

                         GENERAL JOURNAL                              JV No.1

AS AN ILLUSTRATION, LET’S NOW POST THE ABOVE TRANSACTION IN THE GENERAL JOURNAL TO THE BELOW THREE-COLUMN LEDGER ACCOUNT:

                                         GENERAL LEDGER

                    Office Equipment Account                        No:1450

                                                                                                                      Bank Account                                    No:1100

Please bear in mind the following steps to ensure accurate and structured posting technique:

• In the ledger, enter in the appropriate columns of the account debited, the date, journal page and debit amount shown in the journal and

• In the reference column of the journal: write the account number to which the debit amount was posted

• In the ledger, enter in the appropriate columns of the accounts credited, the date, journal page and credit amount shown in the journal and

• In the reference column of the journal; write the account number to which the credit amount was posted.

By performing the aforesaid steps, you will then have a structured, consistent manner of posting to ensure non-omission of any transactions

Related posts:

1. Posting And Its Importance(Part1)
2. The Technique Of Journalizing(Part2of2)
3. Revision Notes–Journal
4. Journal:Cash Receipts Journal
5. Accounting Test Question No 1. On The Recording Process