Ledger- Procedure for Posting

Transferring information i.e. entries from journal to ledger accounts is called posting. The procedure of posting from journal to ledger is as follows:
1.
Locate the ledger account from the first debit in the journal entry.
2.
Record the date in the date column on the debit side of the account. The date is the date of transaction rather than the date of the posting.
3.
Record the name of the opposite account (account credited in entry) in the particular (also know as reference column, description column etc) column.
4.
Record the page number of the journal in the journal reference (J.R) column from where the entry is being posted.
5.
Record the amount of the debit in the "amount column"
6.
Locate the ledger account for the first credit in the journal and follow the same procedure.

Balancing An Account:
The difference between the two sides of an account is its balance. The balance is written on the lesser side to make the two sides equal. The process of equalizing the two sides of an account is known as balancing.