Final answer:
Posting is the computerized accounting process for updating a company's ledger, transferring information from general or special journals to individual ledger accounts.
Step-by-step explanation:
The computerized accounting process for updating the company's ledger is known as posting. Posting is the process of recording amounts as credits and debits in a company's ledger accounts.
Once transactions are initially recorded in the general journal or special journals, they need to be posted to individual accounts in the ledger, such as accounts receivable, inventory, and various expense accounts.
This is essential for keeping an updated record of all financial transactions that have taken place, which can be subsequently used for reporting and analysis.
In computerized accounting systems, posting refers to the process of recording transactions in the company's ledger. It involves updating the appropriate accounts with the corresponding debits and credits.
For example, if a company makes a sale, the accounting software will automatically update the sales account with the revenue generated and the customer's accounts receivable account with the amount owed.