Presentation is loading. Please wait.

Presentation is loading. Please wait.

Posting to General and Subsidiary Ledgers. 2 38. Posting to Accounts Payable ledger Subsidiary ledger – a ledger that is summarized in a single general.

Similar presentations


Presentation on theme: "Posting to General and Subsidiary Ledgers. 2 38. Posting to Accounts Payable ledger Subsidiary ledger – a ledger that is summarized in a single general."— Presentation transcript:

1 Posting to General and Subsidiary Ledgers

2 2 38. Posting to Accounts Payable ledger Subsidiary ledger – a ledger that is summarized in a single general ledger account Accounts Payable ledger – a subsidiary ledger containing only accounts for vendors from whom merchandise or other items are purchased on account Accounts Receivable ledger – a subsidiary ledger containing only accounts for charge customers Controlling account – an account in a general ledger that summarizes all accounts in a subsidiary ledger

3 3LESSON 11-1 ACCOUNTS PAYABLE LEDGER AND GENERAL LEDGER CONTROLLING ACCOUNT page 299 Account #’s

4 4LESSON 11-1 ACCOUNTS PAYABLE LEDGER FORMS page Write the vendor name. 2.Write the vendor number. 3.Write the date. 4.Write the word Balance. 5.Place a check mark in the Post. Ref. column. 6.Write the balance.

5 5LESSON 11-1 POSTING FROM A PURCHASES JOURNAL TO AN ACCOUNTS PAYABLE LEDGER page Write the date. 2.Write the journal page number. 3.Write the credit amount. 4.Write the new account balance. 5.Write the vendor number

6 6LESSON 11-1 POSTING FROM A CASH PAYMENTS JOURNAL TO AN ACCOUNTS PAYABLE LEDGER page Subtract the amount in the Debit column from the previous balance in the Credit column. Write the new balance. 1.Write the date. 5.Write the vendor number. 2.Write the journal page number. 3.Write the debit amount

7 7LESSON 11-1 POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS PAYABLE LEDGER page Write the date. 2.Write the general journal page number. 3.Write the amount. 4.Add the amount in the Credit column to the previous balance in the Credit Balance column. Write the new balance. 5.Write the vendor number

8 8LESSON 11-1 POSTING A DEBIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS PAYABLE LEDGER page Write the date. 2.Write the general journal page number. 3.Write the amount. 4.Add the amount in the Debit column to the previous balance in the Debit Balance column. Write the new balance. 5.Write the vendor number

9 9LESSON 11-1 COMPLETED ACCOUNTS PAYABLE LEDGER page 304

10 Posting to Accounts Payable ledger Schedule of accounts payable – a listing of vendor accounts, account balances, and total amount due all vendors

11 Posting to Accounts Receivable ledger Account #’s

12 12LESSON 11-2 ACCOUNTS RECEIVABLE LEDGER FORMS page Customer name2 Customer number

13 13LESSON 11-2 POSTING FROM A SALES JOURNAL TO AN ACCOUNTS RECEIVABLE LEDGER page Add the amount in the Debit column to the previous balance in the Debit Balance column. Write the new account balance. 1.Write the date. 2.Write the sales journal page number. 3.Write the debit amount. 5.Write the customer number

14 14LESSON 11-2 POSTING FROM A CASH RECEIPTS JOURNAL TO AN ACCOUNTS RECEIVABLE LEDGER page Subtract the amount in the Credit column from the previous balance in the Debit Balance column. Write the new balance. 2.Write the cash receipts journal page number. 5.Write the customer number. 3.Write the credit amount. 1.Write the date

15 15LESSON Write the date. POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS RECEIVABLE LEDGER page Write the general journal page number. 3.Write the amount. 4.Subtract the amount in the Credit column from the previous balance in the Debit Balance column. Write the new balance. 5.Write the customer number. 3

16 16LESSON 11-2 COMPLETED ACCOUNTS RECEIVABLE LEDGER page 312

17 Posting to Accounts Receivable ledger Schedule of accounts receivable – a listing of customer accounts, account balances, and total amount due all customers

18 Posting to the general ledger Order of posting – transactions should be posted by 1. Date 2. Then by journal in the following order: Sales journal Purchases journal General journal Cash receipts journal Cash payments journal

19 19LESSON 11-3 STARTING A NEW PAGE FOR AN ACCOUNT IN A GENERAL LEDGER page Write the account title. 2. Write the account number. 3. Write the date. 4. Write the word Balance in the Item column. 5. Place a check mark in the Post. Ref. column. 6. Write the balance.

20 20LESSON 11-3 POSTING FROM THE GENERAL AMOUNT COLUMNS OF A CASH PAYMENTS JOURNAL TO A GENERAL LEDGER page Add the amount in the Debit column to the previous balance in the Balance Debit column. Write the new balance. 5.Write the general ledger account number. 1.Write the date. 2.Write the journal page number. 3.Write the debit amount

21 21LESSON Write the general ledger account number. POSTING A DEBIT ENTRY FROM A GENERAL JOURNAL TO A GENERAL LEDGER page Write the date. 2.Write the general journal page number. 3.Write the amount. 4.Calculate and write the new account balance.

22 22LESSON Write the general ledger account number. POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO A GENERAL LEDGER page Write the date. 2.Write the general journal page number. 3.Write the amount. 4.Calculate and write the new account balance.

23 23LESSON In the sales journal, write the general ledger account number. POSTING TOTALS OF A SALES JOURNAL TO A GENERAL LEDGER page For each account, calculate and write the new account balance. 1.Write the date. 2.Write the sales journal page number. 3.For each column and account, write the column total.

24 24LESSON Write the date. POSTING THE TOTAL OF A PURCHASES JOURNAL TO A GENERAL LEDGER page Write the purchases journal page number. 3.For each account, write the purchases journal column total. 4.For each account, calculate and write the new balance. 5.Write the purchases general ledger account number and the accounts payable general ledger account number. 2 2

25 25LESSON 11-4 POSTING SPECIAL AMOUNT COLUMN TOTALS OF A CASH RECEIPTS JOURNAL TO A GENERAL LEDGER page Date 2.Journal page number 3.Column total 4.Account balance 5.Account number

26 26LESSON 11-4 POSTING SPECIAL AMOUNT COLUMN TOTALS OF A CASH PAYMENTS JOURNAL TO A GENERAL LEDGER page Date 2.Journal page number 3.Column total 4.Account balance 5.Account number

27 27LESSON 11-5 JOURNALIZING CORRECTING ENTRIES AFFECTING CUSTOMER ACCOUNTS page 327 December 10. Discovered that a sale on account to Cumberland Center on December 3 was incorrectly charged to the account of Country Crafters, $ Memorandum No Write the date. 5.Write the name of incorrectly charged customer. 2.Write the name of correct customer. 3.Write the memorandum number. 4.Write the amount. 6.Write the amount.

28 28LESSON 11-5 POSTING CORRECTING ENTRIES AFFECTING CUSTOMER ACCOUNTS page Write the amount. 2.Write the general journal page number. 1.Write the date. 5.Write the appropriate customer number in the Post. Ref. columns. 4.Calculate and write the new account balances.


Download ppt "Posting to General and Subsidiary Ledgers. 2 38. Posting to Accounts Payable ledger Subsidiary ledger – a ledger that is summarized in a single general."

Similar presentations


Ads by Google