How to post the cash book to the ledgers
The cash book is already the Bank account. Post the column totals to the general ledger, and each amount to its customer or supplier.
Task 1Posting the receipts side3 questions
The cash book is the Bank account, so the Bank total is not posted again. Only the other half of each entry is still to be made.
On the receipts side the Bank column is the debit. So every analysis column total is posted as a credit in the general ledger.
| Bank | Trade receivables | Cash sales | VAT |
|---|---|---|---|
| 2,700.00 | 2,340.00 | 300.00 | 60.00 |
The Trade receivables account in the general ledger holds the total owed by all customers. It is also called the sales ledger control account.
Task 2Posting the payments side3 questions
Task 3Posting to each customer and supplier4 questions