what is posting, ledger?

Answer 1

"POSTING" is when you record an accounting entry into the general ledger. FYI: Entries are no longer transferred from journals to ledgers since paper accounting systems are almost extinct. Now, you just have a single entry that flows straight to the G/L.

"LEDGER" is the accounting "books". It derives its name from when it was actually a physical ledger (i.e. a big book). It is no longer a physical book, but accounting software. The "ledger" is an old fashioned term. People now just say "the books" or GL, which means General Ledger.

Answer 2

The problem is u r asking for double entry,,....if you look carefully you'd note that there is only one entry here. Problem is wrong. The other guy who said was partly right, left side right side etc., but say cash A/c Dr. 50,..we post it on the debit side left). We would then have to write a balancing entry , say for cash on the other side or say balance c/d. If you look carefully you can see tha it comes to thousand. Accounts never have tobe related oke. the balance has to be. And if you t ake them to a trial balance you'll see that 100 =100. Balanced. When TO comes before account it is a credit entry ( right side) and when Dr. comes after the account it is a Debit entry (left side). In the Trial Balance just remember DC ( current you could think) Debit --Credit...Which amounts huh? debit and credit is with the same amount that is given. Open any accounting text and you'll find the three golden rules of accounts,...the problem is wrong because it wasn't told right or completely.

Answer 3

POSTING is the process of transferring the accounting entries from the journal to the ledger
LEDGER is a group or file of accounts that can be stored as pages in a book, as cards in a tray, as tape on a reel, or magnetically on a disk.