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Can we post entry in ledger after preparing trial balance
Accountancy
Can we post entry in ledger after preparing trial balance or it is only adjusted through adjustment of final account
Answers (9)
Best Answer
In real life - you pass source entry (could be purchase, sale , journal etc). Ledgers and trial balance are automatically created on real time basis. You identify errors and pass rectification entries. You also pass closing entries. then the updated TB is used to prepare PL and BS.
Thanusha Lakshmi
Actually Process of accounting First we write journal entries Next we make that entries posting in ledger account Next we prepare trail Balance with that ledger balances And we prepare Trading, P&l , Balance Sheet finally
Ok means we can't post new entry after preparing trial balance ??
Thread Starter
Atharv SankliyaOk means we can't post new entry after preparing trial balance ??
Ha sometimes we make theough adjustment entries
Thanusha Lakshmi
Ha sometimes we make theough adjustment entries
But simultaneously do we have to post the entry in there respective account also ??
trial balance is a bookkeeping worksheet-like account that reflects all the credit and debit balances of all the ledger accounts. Once we prepare this statement, we can prepare the final accounts of the company on the basis of this trial balance. Preparation of trial balance is the third step in the accounting process. First, we record the transactions in the journal. And then we post them in the general ledger.Â
CA Suraj Lakhotia Admin
In real life - you pass source entry (could be purchase, sale , journal etc). Ledgers and trial balance are automatically created on real time basis. You identify errors and pass rectification entries. You also pass closing entries. then the updated TB is used to prepare PL and BS.
Ok means trial balance adjustment are just there for the academic practices
