01 February 2010
I want to know that is it possible that we can do posting in ledgers without journalising it on paper as well as in mind ........i mean tio say that is it necessary to either think or to write journal entries while posting in ledger?
can we do posting in ledger with raw data without jounalising it especially in case of companies.......?
If we open securities premium a/c , share discount a/c , calls in areears a/c , share application a/c , share allotment a/c and calls a/c in ledger than it is necessary to pass jounal entries and if we do direct posting than is there any chances for mistakes?
I tried .i am able to know when will the account will be debited or credited but not able to know the opposite account without the help of journal entries ..........
03 February 2010
No, it is not feasible to write ledger without first journalising. Definitely some errors will creep in. I could not understand what you want to say in the last paragraph. Please explain that part.
CAclubindia
