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What is posting in Accounting

What is posting in Accounting?

The process of transferring the entries recorded in the journal or subsidiary books to the respective accounts opened in the ledger is called Posting.
Or

Posting is the process of transferring entries from journal or subsidiary books to the ledger.

Rules of posting

* Identify both the accounts ‘debit’ and ‘credit’ of the journal entry. Open the two
accounts in the ledger.
* All transactions relating to an account should be entered at one place.

*If an account is debited in the journal entry, the posting in the ledger should be made on the debit side of that particular account.

* In the particular column, the name of the other account (which has been credited in the Journal entry) should be written for reference.

* If an account is credited in the Journal entry, the posting in the ledger should be made on the credit side of that particular account.
* In the particular column, the name of the other account (which has been debited in the Journal entry) should be written for reference.

* Write the page number of the journal from which the item is taken to the ledger in Folio column and write the page number of the ledger from which account is written in L.F. column of the journal.

* ‘To’ is written before the Account which appears on the debit side of the ledger.

* “By” is written before the Account which appears on the credit side of the ledger.

* Use of these words ‘To’ and ‘By’ is optional.