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Recording is usually done in a journal. According to Nikolai, Bazley and Jones (2009), there are many types of journals which are selected on the basis of the type of transaction. Special journals record particular types of transactions. Moreover, a company may choose to record all transactions in a general journal. It consists of different columns such as date, affected accounts, account numbers, debit and credit. The process of recording a journal transaction is usually referred to as journalizing while the resultant entry is a journal entry. The recording process has at least three steps. According to Weyngandt et al (2009), the first step in recording entails analyzing each transaction and its effects on the accounts. Secondly, one should enter the journal transaction or information in a journal. Thirdly, the journal information on specific accounts is transferred into the ledge.

One of the main processes that support recording is posting. Weygandt et al. (2009) defines posting as the process of transferring a journal entry into the ledger accounts. It is a process or procedure that supports recording. It could be said that posting accumulates the effects of transactions in a journal in the specific accounts. McQuaig and Bille (2007) and Cunningham et al. (2011) outline the steps involved in posting. They write that the first step is to write the transaction date in the relevant column. Secondly, the transaction amount is written in the credit or debit column and the new credit or debit balances entered. Thirdly, the page number of the journal should be written in the ledger accountÂ’s Post. Ref. column. Finally, you can record the number of ledger account in the journal in the Post. Ref. column.