Individual account example sentences

We will now see how the transactions recorded in double column cash book are posted to the individual accounts.The process of transferring journal entry to individual accounts is called posting.After the debits and credits for each transaction are entered in the journal, they are transferred to the individual accounts.This system of guarantee assures individual account-holders that their banks will be able to pay their money back in case of a crisis and there is no need to panic thus avoiding bank runs.However, for the sake of convenience, initially individual accounts are opened for each instalment.Any error in posting of individual transactions in subsidiaries books relates to individual account only, the sales account, purchase account, sales return account or purchases return account are not involved.It may be noted that in trial balance, normally in place of balances in individual accounts of the debtors, a figureure of sundry debtors is shown, and in place of individual accounts of creditors, a figureure of sundry creditors is shown.