Posting Journals to the

Previous lesson: Balancing T-Accounts
Next lesson: Control Accounts

As previously mentioned, the second step in the accounting cycle is recording the accounting journals.

The third step is posting journals to the ledger (T-accounts).

What does this mean? Posting means to transfer the information calculated in the journals to the various T-accounts in the ledger.

Let's see exactly how this transfer is done. Look through the journals and T-account below, then read on for the explanation:

Cash Receipts Journal
Cash Payments Journal
Bank T-Account

In practice we would not put each individual transaction concerning bank into the "bank" T-account. Instead, we would simply take the total of cash receipts from the cash receipts journal (column "bank") and insert this on the debit side of the "bank" T-account. We would likewise take the total of cash payments from the cash payments journal (column "bank") and insert this on the credit side of the "bank" T-account.

This is the act of posting the journals to the ledger.

As you can see, we get to the same closing balance as in the previous lesson where we learned how to balance T-accounts.

In conclusion, the T-account thus shows the opening and closing balances and the individual transactions during the period covered. The T-account is a summary record of everything that occurred with a specific accounting item during a certain period of time.

Return from Posting Journals to the T Accounts to The Accounting Cycle

Return to the Home Page

Previous lesson: Balancing T-Accounts
Next lesson: Control Accounts

Enjoying this Website?
Help Support it with a Donation


Questions Relating to This Lesson

Click below to see questions and exercises on this same topic from other visitors to this page... (if there is no published solution to the question/exercise, then try and solve it yourself)

Closing entries for non-profit (donating remaining items)?
Q: I am trying to close accounts for a non-profit company. They have remaining t-shirts and food that they are donating to another charity (homeless …

Which Journal Does This Transaction Go Into?
Which journal does this transaction go into? Sammy stores issued us an invoice for stationery purchased from them, R759.

Opening Balances Differences
Q: What are possible reasons for differences occurring in closing balances and opening balances for next period? A: Not sure. There shouldn't be …

Creditors Allowances Question
Q: Where does the creditors allowances go?

Q: What is the formula to calculate cost of sales? What is the formula to calculate net profit? A: Formula for cost of sales: Cost of sales = Opening …


Have your say about what you just read! Leave me a comment in the box below.

Advertise on

More Info

Get Your Degree!

Find schools and get information on the program that’s right for you.

Powered by

All the lessons on this site and much, much more...

Available Now On

Related pages

monthly profit loss statement templatethe accounting equation isjournal entry to record net incomefinancial accounting worksheetscorrect sequence of accounting proceduresstatement of cash flows for dummiescreditor accounting definitionphysical inventory definitioncross referencing in accountingaccounting tutor torontosole proprietorship financial statementsassest meaningtagalog of owefifo method advantagesgross profit inventory methodfiguring weighted averagecogs formula income statementperpetual system of inventorycredited and debited meaningretained profit formulamanufacturing account in tallynormal debit balancedebits and creditjournal entry to record net incometypes of accrued expensesdouble entry bookkeeping templateperpetual system inventoryindirect cash flow formatdebit and credit entrieswhat does sales ledger meantrial balance exercisedifference between creditor and debtordifference between accumulated depreciation and depreciation expenseinventory lifoloan ledgerdefine profit motivewhat does ex vat meansimple accounting equationaccounting courses for beginnersbad debts entry in balance sheetexplain accounts receivablestockholders equity statement exampleprepaid revenue journal entrycanara account balancecompute vathow to record accounts payable journal entriesaccounting synonymending inventory definitionfifo method inventoryhow to deduct vatcash flow statement direct method formataccounting synonymwages payable t accounthow to maintain a ledger bookvat receivable accountinglifo explainedbooks in accountingsingle vs multi step income statementworksheet definition accountingjournal entry of accrued incomepurpose of statement of retained earningsaccounting journal entries examples pdfwhat is revenue minus expensessundry creditors definition accountingbbf meanbuy cheap college textbooksvat output tax definitionstatement of owner equitygross profit vs markupwhat is the meaning of debitedwhat are the steps of the accounting cycleprepare the journal entries to record this transactiondefine residual claim