0
The process of recording transactions in the journal is called posting?
Wiki User
∙ 12y ago
No, it's journalizing.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
The process of transferring journal entries to a ledger is known as?
This process is referred to as "posting". This is needed to keep complete and organized records of all transactions in the general ledger, as this is the source document used to create statements.
The procedure of transferring journal entries to the ledger accounts is called?
The whole process of transferring entries from journal to ledger is called posting process.
What is the recording process in accounting?
The recording process in accounting is the process of summerizing, classifying, and recording analysed transaction data in the journal in a systematic and chronological order and posted those to the ledger.
The process of transferring the debits and credits from the journal to the ledger accounts is called?
posting
The process of posting is associated most closely with the?
transferring journal entries to ledger accounts
What is posting in accounting?
Posting is recording in the ladgers information from journal. Posting is always from journal.
What relationship between the journal and the ledger?
Both the Journal and the Ledger are the two most important books used under the Double Entry System of "Book-Keeping". The relationship between the "Journal & Ledger" could be expressed as follows: Journal is the book of first or original entry - since all the Business Transactions are recorded first of all in the "Journal". While the "Ledger" is the book of second entry - since the transactions are "Posted" to the "Ledger" from the Journal. The Journal records tranasactions in "Chronological order", while the Ledger records the transactions in analytical order. The Journal is more reliable than Ledger since it is the book in which the entry is entered first. The process of recording transations is termed as "Journalising" while the process of recording transactions in the Ledger is called as "Posting". Ramesh Kutumbaka
What are the steps in the recording process in accounting?
The basic steps in the recording process are Identify and analyzing transactions and events -> Recording in journals -> posting to the ledger -> Unadjusted trial balance -> Adjusting entries -> Adjusted trial balance -> Financial statement -> Closing entries -> Post closing trial balance
The process of transferring journal entries to a ledger is known as?
This process is referred to as "posting". This is needed to keep complete and organized records of all transactions in the general ledger, as this is the source document used to create statements.
The process of transferring the journal entries to the accounts is known as?
Posting
Why special journal is prepared?
A special journal is prepared to streamline the recording of specific types of transactions, such as sales or purchases, to improve efficiency in the accounting process. Special journals help to organize and classify similar transactions together, making it easier to track and analyze financial data.
The procedure of transferring journal entries to the ledger accounts is called?
The whole process of transferring entries from journal to ledger is called posting process.
What is the recording process in accounting?
The recording process in accounting is the process of summerizing, classifying, and recording analysed transaction data in the journal in a systematic and chronological order and posted those to the ledger.
The process of transferring the debits and credits from the journal to the ledger accounts is called?
posting
The process of posting is associated most closely with the?
transferring journal entries to ledger accounts
What is difference between Journal and Ledger?
A journal records individual transactions in chronological order, while a ledger is a summary of all transactions grouped by accounts. The journal is the first step in the accounting process, whereas the ledger organizes and classifies the information from the journal. In essence, the journal is like a diary, and the ledger is like a filing cabinet.
The posting process will include the transfer of the following information from the journal to the account?
To know what the posting process is the information about what program is being used or where the information is being posted. Without knowing this the process used to post is not able to be given.
