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AS we know,after we made journal entries ,the next step is to post the journal enrries into th Ledger.
- POSTING TO THE LEDGER IS CLASSIFING PHASE OF accounting.
-We go to the Ledgerand post the amounts debited and credited to the appropriate side.
-Debits go to the left side and credits to the right .
- A General Ledger contains accounts that are broad in nature succh as Cash,Acconts Receivable,Supplies.
CLASSIFYING PHASE OF accounting by doing the posting procedure
its called Posting.
Entries what we have written in Journal is getting Posted/Closed in to Concern ledger.
1. Journal entry is legal ?
2. Duly approved
3. if system generated, is by the relevant source (Dept)
4. Contents of the entry clear and source is authenticated
5. transfer to Ledger same day