Ledger
The general ledger contains all accounts needed to prepare financial statements. Accounts in a general ledger are arranged in the same order as they appear on financial statements. Accounts payable are amounts to be paid in the future for goods or services already acquired. The accounts receivable ledger is a subsidiary ledger containing all accounts for charge customers. Posting is transferring information from a journal entry to a ledger account.
Posting sorts journal entries so that all debits and credits affecting each
account are brought together in the cash account. Amounts in journal entries are
recorded in either general amount columns or special amount columns.
account are brought together in the cash account. Amounts in journal entries are
recorded in either general amount columns or special amount columns.