BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Ledger Posting After the transactions are recorded in the journal, it is then posted in the principal book called as ‘Ledger’. The process of transferring the entries from journal to respective ledger accounts is called ledger posting. Balancing of ledgers is carried to find out differences at the end of the year.

Detailed explanation-2: -The process of transferring entries from a journal to the respective ledger accounts is known as ledger posting. For this process, first, the entries are recorded in journals and then transferred to their respective ledger accounts.

Detailed explanation-3: -A ledger is basically a record in which we record transactions of a specific nature. Every ledger relates to a particular person, asset, expense or revenue. For example, most common ledgers show transactions relating to cash, bank, land, building, inventory, salary, capital, debts, etc.

Detailed explanation-4: -An accounting ledger is an account or record used to store bookkeeping entries for balance-sheet and income-statement transactions. Accounting ledger journal entries can include accounts like cash, accounts receivable, investments, inventory, accounts payable, accrued expenses, and customer deposits.