In your own words, what is the difference between JOURNALIZING and POSTING?
In your own words, what is the difference between JOURNALIZING and POSTING?
Homework Answers
The process of recording the transactions in the books of accounts based on the source document is known as journalising. Entering the journal entries is the first step of accounting.
After recording the journal entries each transaction is entered in its respective ledger account which is known as posting.
Opening and closing balance of any account cannot be known from journalising but can be known from posting.
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In your own words, what is the difference between JOURNALIZING
and POSTING?
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