Question

The final step in the recording process is to transfer the journal information to the

Answer 1

Ledger

Next step after journaling is posting in ledger

Answer 2

The final step in the recording process is to transfer the journal information to the ledger.

Explanation:

• The first two steps of the accounting cycle are transaction analysis and journal entries.
• The transfer of journal entries to a general ledger, which normally has a separate form for each account, is known as posting. Journals keep track of transactions chronologically, whereas ledgers keep track of transactions by account.
• Accounting posting is made up of a few easy procedures.
• Typing the account name and number,
• describing the specifics of the journal entry,
• entering the debits and credits for the transaction,
• calculating the running debit and credit balances, and
• fixing any errors are the five processes of posting from the journal to ledger.