Posting in Accounting

Posting in Accounting

Primary accounting, or posting, is the initial stage of system perception of registration in the book of individual operations that characterize economic processes and phenomena occurring in the organization. Its objects are procurement, acquisition, and expenditure of material resources, production costs, movement of semi-finished products and remnants of work in progress, the volume of output, its shipment and sale, settlements with suppliers, buyers, customers, banks, financial authorities, founders, relations between debit and credit, etc.

What is posting in accounting

Posting is the preparation of primary documents in accounting. A primary accounting document is a written certificate of a business transaction that is legally binding and does not require further explanation or detail. Initial information about economic processes and phenomena is reflected in the primary documents.

Posting in Accounting

Posting in Accounting — Rules

The primary accounting document must have:

  • name — financial and economic content of the business operation mentioned in the ledger. A document in the entry that does not have a name, as well as a document with an unclear, poorly readable name, will not have legal force;
  • the name and, in some cases, addresses and Bank accounts of the parties (legal entities and individuals) involved in this business transaction. A primary document that does not contain the name and corresponding attributes of at least one of the parties to the business transaction loses its address and cannot be executed;
  • the date of preparation of the post. If the date is missing or unclear, the document loses its address on time. Such a document has no legal force;
  • the content of the business transaction (the object of documentation), resulting from the name of the document in which it is available in General form;
  • meters of an ongoing business operation. The absence of meters in the document deprives it of its account and calculation base;
  • signatures of responsible persons — the organization’s Director and chief accountant.

Documents are filled out by accounting employees clearly and legibly using manual writing in ink or ballpoint pen paste, on a typewriter, or using computer technology.

Computerized Accounting System Postings

The second stage of the accounting process is the processing of accounting information. It involves direct participation of employees of functional management services in obtaining accounting information. This processing is usually performed using a computer module. Modern computer programs allow you to correctly prepare the necessary and important reports in a short time. Within the established time frame, warehouse managers and Department managers submit these reports to the organization’s accounting department.