1. Posting from a General Journal to a General Ledger Accounting I Chapter 4, Section 1

2. From Journal to Ledger Journal Grouped by date (chronologically) Ledger Grouped by account General Journal Record all kinds of transactions General Ledger All accounts needed to prepare financial statements

3. Balance columns The Account Form

4. Chart of Accounts Accounts are grouped in sections List of accounts used by a business

5. Assigning Account Numbers Determine what division the account is classified Determine position within that division Assets – ordered by liquidity Liabilities – alphabetical Owner’s Equity – capital then drawing Revenue – Sales first Expenses – alphabetical Be sure to leave room to add new accounts.

6. 1 1.Write the account title. 2.Write the account number. 2 Opening an Account