The-definition.com

Definition

Posting

Posting is the procedure of transferring journal entries to the ledger accounts. This phase of the recording process accumulates the effects of journalized transaction into the individual accounts. Posting involves the following steps.

  1. In the ledger, enter, in the appropriate columns of the account debited, the date, journal page, and debit amount shown in the journal.
  2. In the reference column of the journal, write the account number to which the debit amount was posted.
  3. In the ledger, enter, in the appropriate columns of the account credited, the date, journal page, and credit amount shown in the journal.
  4. In the reference column of the journal, write the account number to which the credit amount was posted.

Webster Dictionary Meaning

1. Posting
- The act of traveling post.
- The act of transferring an account, as from the journal to the ledger.
2. Posting
- of Post
Share it:  Cite

More from this Section

  • Salvage value
    Salvage value is an estimate of the asset’s value ate the end of its useful life. This ...
  • Box Spread
    A Box Spread is an alternative trading strategy that involves buying a bull call spread ...
  • Days in inventory
    A variant of the inventory turnover ratio is days in inventory that measures the average ...
  • Privately held corporation
    Privately held corporation is a corporation that has only a few stockholders and whose ...
  • Cash-basis accounting
    Cash-basis accounting is an alternative to the accrual basis refers to an accounting basis ...