Final answer:
The process of moving debit and credit information from the general journal to the general ledger is called posting. It is a vital part of the accounting cycle to ensure financial statement accuracy. Journalizing is the action of recording transactions in the journal before posting.
Step-by-step explanation:
The process of transferring debit and credit information from the general journal to the general ledger is known as posting. This is a key step in the accounting cycle where each journal entry is transferred to individual accounts in the general ledger. Errors in this process can affect the balance in ledger accounts and subsequently the financial statements of a business. Therefore, it's crucial to ensure accuracy during the posting process. Journalizing, on the other hand, is the process of recording transactions in the general journal before they are posted to the general ledger.