The General Ledger 4 Post to the ledger The 4 th step of the accounting cycle is to post to the ledger. 4 Post to the ledger The General Ledger is a book containing a separate page for each business account. The General Ledger serves as a permanent record of financial transactions for the business. Posting to the ledger is the process of transferring information from the General Journal to the individual General Ledger accounts. This is pretty easy. All I really have to do is copy the information that I already have in my general journal.

The Ledger Account Form Let’s take a look at a sample General Ledger. To open a account with a zero balance 1) Write the name of the account on the top of the ledger form. Cash in Bank 2) Write the account number on the ledger form. 101 To open a account with a balance 3) Enter the date in the date column OCT 1 4) Write the word “Balance” in the description column. Balance 5) Place a check mark in the post reference column to show that the amount is not being posted from the General Journal.  6) Enter the balance in the appropriate column. 25,000

Posting to the General Ledger Transaction OCT 1 G125, OCT 1 25, G1

Posting – Transaction OCT 2 G G140025,400

Posting – Transaction OCT 4 G13, G13,00022,000

Posting – Transaction OCT 9 G112, OCT 9 G112,000

Posting – Transaction OCT 11 G G1200

Posting – Transaction 6 12G135011, G135021,650

Posting – Transaction 7 14G120021, G

Posting – Transaction 8 15G11,20023, OCT 15 G11,200

Posting – Transaction OCT 15 G G170022,350

Posting – Transaction OCT 18 G OCT 16 G275

Posting – Transaction OCT 20 G21, G21,4502,650

Posting – Transaction OCT 28 G G212522,225

Posting – Transaction OCT 29 G G260021,625

Posting – Transaction OCT 31 G G250021,125

General Ledger Summary 1

General Ledger Summary 2

General Ledger Summary 3

General Ledger Summary 4

General Ledger Summary 5

General Ledger Summary 6 This takes a long time, but it’s pretty easy.