Lesson Two: Posting Journal Entries to the General Ledger
Before we dive right in, let’s review the general steps of the accounting cycle. As a note, these steps may differ slightly from your textbook, so please be sure to compare this resource to your textbook’s presentation of the accounting cycle.
- Journalize general journal entries for business transactions throughout the accounting period
- Post each journal entry to the general ledger
- Prepare an unadjusted trial balance
- Journalize adjusting entries
- Post each adjusting entry to the general ledger
- Prepare an adjusted trial balance
- Prepare the company’s financial statements
- Journalize closing entries
- Post closing entries to the general ledger
- Prepare a post-closing trial balance
In this lesson, we will review the second step of the accounting cycle: posting journal entries to the general ledger. Pay close attention to this lesson, as mastery of this concept will help you once you get to steps 5 and 9 of the accounting cycle.
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