Day 18 of 50 Days Accounting Challenge. Understanding the concept of ledger posting and balancing is the foundation of accounting. In this reel, you’ll learn how transactions are transferred from the journal to their respective ledger accounts and how to find the closing balance at the end of the period. The focus is on how to post transactions related to purchases, cash, and creditors with complete conceptual clarity. Ledger is known as the book of final entry where all accounts are maintained