Accounting - Chapter 13 Posting to General and Subsidiary Ledgers Ledgers General Ledger: a ledger with all accounts needed to prepare financial statements Subsidiary Ledgers: to eliminate a bulky ledger, subsidiary ledgers are kept for vendors and customers
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Posting to General and Subsidiary Ledgers
Only amounts from the general debit or credit columns are posted to the general ledger individually
Totals of special amount columns are posted at the end of the month.
Opening a New Page for a General Ledger Account
When all lines in a ledger account page are filled, a new page must be opened.
Do the following to open the new page:
write account title & number
write in the date
“Balance” is written in the item column
write the balance in the balance column (debit or credit)