Final answer:
The accounting process of transferring data from the journal to ledger accounts is known as posting, which is essential in preparing financial statements.
Step-by-step explanation:
The process of copying amounts from the journal to the appropriate ledger accounts is referred to as posting. This is a fundamental step in the accounting cycle, where transactions that have been entered in the journal as part of journalizing are systematically transferred to the individual accounts in the general ledger. Once transactions are posted, the ledger accounts can be totaled to create a trial balance, which is used to prepare financial statements.
To clarify, footing refers to the process of adding up the numbers in each column of a journal or ledger to check for accuracy. Journalizing is the act of recording transactions in the journal. Balancing involves making sure that debits and credits equal in the ledger. Hence, the correct term for transferring information from the journal to ledger accounts is posting.