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When are posting from the purchases journal to the subsidiary ledger made?
Wiki User
∙ 11y ago
daily
Wiki User
∙ 11y ago
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How does the voucher register eliminate the purchases journal and the subsidiary accounts payable ledger?
Because voucher register has all the necessary records that found in the purchases journal and subsidiary accounts.
When an accounts payable subsidiary ledger is used the entry to Accounts Payable requires two posting references in the general journal?
yes
How do you correct in the journal?
to correct an error made in the journal ( prior to posting in the ledger)
The process of posting is associated most closely with the?
transferring journal entries to ledger accounts
Posting is performed by transferring information from the?
general journal to the general ledger...
When are posting from the purchase journal to the subsidiary ledger made?
daily
How does the voucher register eliminate the purchases journal and the subsidiary accounts payable ledger?
Because voucher register has all the necessary records that found in the purchases journal and subsidiary accounts.
When an accounts payable subsidiary ledger is used the entry to Accounts Payable requires two posting references in the general journal?
yes
Posting reference on the journal should be?
should be entered when posting to the ledger
How is subsidiary ledger different to the general ledger?
A subsidiary ledger is a group of similar accounts whose combined balances equal the balance in a specific general ledger account. The general ledger account that summarizes a subsidiary ledger's account balances is called a control account or master account. For example, an accounts receivable subsidiary ledger (customers' subsidiary ledger) includes a separate account for each customer who makes credit purchases. The combined balance of every account in this subsidiary ledger equals the balance of accounts receivable in the general ledger. Posting a debit or credit to a subsidiary ledger account and also to a general ledger control account does not violate the rule that total debit and credit entries must balance because subsidiary ledger accounts are not part of the general ledger; they are supplemental accounts that provide the detail to support the balance in a control account.
How do you correct in the journal?
to correct an error made in the journal ( prior to posting in the ledger)
The process of posting is associated most closely with the?
transferring journal entries to ledger accounts
Posting is performed by transferring information from the?
general journal to the general ledger...
What is posting in accounting?
Posting is recording in the ladgers information from journal. Posting is always from journal.
The process of transferring the debits and credits from the journal to the ledger accounts is called?
posting
The first step in posting either a credit entry from the journal to the ledger is to transfer the?
Date
Are individual amounts in the purchases journal posted to the general ledger during the month?
3
