Posting into the ledgers
Started 19 days ago
Accounting — HKDSEHKDSE
- Session:
- Posting into the ledgers
- Primary topic:
- Ledgers
- Level:
- Core
- Mastery:
- Possible knowledge gap32%
Also covered: Trial balance
Conversation
You
How do I know which ledger to post to?
StudyPath
Three ledgers: the sales ledger for individual customers, the purchases ledger for individual suppliers, and the general ledger for everything else including the control accounts. Post from the day books, not directly from the invoices.
You
I got the balance c/d on the wrong side again.
StudyPath
Balance c/d goes on the *smaller* side to make the two columns equal, then it is brought down on the opposite side as balance b/d. A cash account with money in it carries a debit balance b/d.
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