Ledger posting is the act of transferring transaction entries from the journal to the ledger accounts. As we know that the ledger account contains all accounts including the credits, debits and the resulting balances of each account, posting these entries is the next step in the process of accounting. The posting process includes the putting of money to the appropriate sides of credits and debits. After you have posted, you will get the cash and the capital account.
A cash book is also a journal which contains all the cash receipts and payments with the deposits and withdrawal from the bank account. You need to post these entries to the general ledger. It holds the original and the final entry, i.e. the entries from journal and the ledger respectively.
The larger firms use cash books for recording the transactions for many reasons. For example, you can quickly determine the cash balances that occur daily. As you keep a regular check on it, it is easier to find out mistakes, and you’re aware of the recent entries. For getting more information about ledger posting from cash book homework answers, check out the full blog.
Ways to post ledger from cash book
It is important to post ledger from cash book to complete the double entry record. You can do it in two ways, one from the debit side and the other from the credit side. Let’s understand it in more detail.
In the debit portion of the cash book, you will find the accounts through which you have received money into your account. It will contain all the cash receipts. The amount has been debited and must have been credited from the accounts while receiving. You have to post into the accounts’ credit which is listed on the debit side of cash book as â€˜by money a/c.’ You can’t use the same name in its ledger account.
In the credit portion of the cash book, you will find the accounts to which you have paid money from your account. The amount is now credited and mostly debited from the accounts at the time of payment. You have to post to the accountsâ€™ debit information that is listed on the credit side of the cash book.
Cash Book Homework Answer Help Services
For finding out ledger posting from cash book homework answers, it is important to know well about the concept. It is the first step that a student should do. Before taking help from different sources, it is the duty of a student to try it first on his own. It will help him to get better on the subject. You shouldn’t always depend on someone’s help. It isn’t the right thing to do.
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