Please explain the recording and posting processes fully but concisely. Thank you.© BrainMass Inc. brainmass.com October 9, 2019, 11:31 pm ad1c9bdddf
The process of 'recording' simply means to make a written record of transactions in an accounting journal. The accounting journal can be paper or electronic but once recorded, the transaction should be available as a history of the financial transactions of a company.
The journals are often specialized so that similar types of transactions can be grouped together. For example, the cash receipts journal should contain a listing of all the ...
In a 282 word solution, the narrative statement explains the difference between recording and posting. Types of journals are discussed to better understand the posting process. Some examples help to explain the concepts.