Question

Meaning of slip system of posting?

Answer 1

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The slip system of posting refers to the slips used to make entries in the customers’ personal accounts in the ledger rather than from journals. This method is usually opted for when there are no vouchers

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Answer 2

It is a method of rapid posting in books maintained under Double Entry principle. Under this system, posting is done from slips and not from journals or cash books.

Slips are loose leaves of journals and these are supplied either by the customers or by the bank staff.