Distinction between subsidiary books and ledger - class-IX

The book of original entry or prime entry is journal in which all day to day transactions are recorded. All the transactions from journal are posted to ledger which consists of different accounts on the basis of transactions recorded in journal. 

Cash book is a book which contains records about the receipt and payments of the firm. It also deals with all the bank deposits as well as withdrawals made. Entries in the cash book made are posted into general ledger so that cash in hand or cash at bank can be ascertained. It is the same as journal and then posting into ledger. Hence, cash book serves both as journal and ledger.

A transaction is recorded first in a journal because journal provides complete details of a transaction in one entry. 

Debt and credit are two important terms used in Book-keeping and Accountancy. These two terms form the very basis of recording transactions in the books of accounts. 

The process of recording transaction in the book of original entry is known as Journalising. The transactions are recorded in the form of a journal entry. Recording is made following the double-entry system of accounting. Thus, it records the two-fold effect of every transaction in the process of journalising, the transaction is first analysed in order to decide the account to be debited and credited by ascertaining the rule of debit and credit. After this, entries are recorded in the books of accounts. Once the entry is recorded in books, it is further posted from the journal to the ledger accounts which is called posting of entries.

Posting is when the balances in sub ledger and the general journal are shifted into the general ledger. It is not at all the recording of a transaction in journal. 

Brokerage is a fee or commission paid to a broker who is engaged in business in buying or selling shares and securities. 

Transfer entries, are entries intended to transfer an item from one head of account to another. 

All the accounts identified on the basis of transactions recorded in different journals/books such as Cash Book, Purchase Book, Sales Book etc. will be opened and maintained in a separate book called Ledger. So a ledger book; in which all types of accounts relating to assets, liabilities, capital, expenses and revenues are maintained. It is a complete set of accounts of a business enterprise. 

The process of recording transactions in the journal is called Journalizing. Once journalizing process is completed, the journal entry provides a complete and useful description of the event's effect on the organisation. 

Ledger posting is made after recording the journal entries in the book of original entry. Once the transactions are recorded in the journal, theses are transferred or posted to the relevant ledger accounts. 

The first step involves identifying the transactions to be recorded and preparing the source documents which are in turn recorded in the basic book of original entry called journal and are then posted to individual accounts in the principal book called ledger. 

Posting is the process of transferring the entries from the books of original entry (journal) to the ledger. In other words, posting means grouping of all the transactions in respect to a particular account at one place for meaningful  conclusion and to further the accounting process. Positing from the journal is done periodically, may be, weekly or fortnightly or monthly as per the requirements and convenience of the business. 

Ledger posting means making entries of the transactions in the ledger books from the journals. Posting is a process of transferring debit and credit aspects of the entries appearing in the journal and other books of original entry to the debit and credit sides of the relevant accounts in the ledger. 

Ledger folio is the page number or folio number that is recorded in the L.F. column in the Journal. 

Journalising is the process of recording the aspects of the transactions in journal. In other words, recording of entries in the journal is known as journalising. 

The primary purpose of the ledger is to facilitate the cross-checking of business transactions through the process of balancing accounts, which is a fundamental part of accounting.

All cash transactions are first recorded in cash book. Hence cash purchase of raw material is also to be recorded in cash book.

The detailed record of all the changes that have occurred in a particular asset, liability, or owner's equity during a period is known as account. It is a record or statement of financial expenditure and receipts relating to a particular period or purpose.

All journal entries must be transferred to a book to have the summary of each account. The book where these individual account are opened is called ledger. Process of transferring the entries from journal to ledger is called posting.

The total of “Bills Payable Book” shows the total amount of bills accepted, which is posted on the Credit side of “Bills Payable Account”. Bills Payable are liability for business. Thus, show credit balance.

Posting is the accounting process of transferring entries from the journal to the ledger accounts. This organizes financial data by specific accounts.

Posting is the process of grouping all transactions related to a specific item into one place, which is known as an account in the ledger.

Posting is the process of transferring the entries from the book of original entry (journal) to the ledger. In other words, posting means grouping of all the transactions in respect to a particular account at one place for meaningful conclusion and for further accounting process. Posting from the journal is done periodically, may be, weekly or fortnightly or monthly as per the requirements and convenience of the business.

After the transactions are recorded in these journals, a summary of all the transactions is posted in each journal to the general ledger, which contains all of a company's accounts. An account is a separate, detailed record associated with a specific asset, liability, equity, revenue, or expense item.

Posting is the accounting process of transferring transactions to their specific accounts in the ledger to maintain a record of changes for each item.