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Question 8

What is the purpose of posting J.F numbers that are entered in the journal at the time entries are posted to the accounts?


J.F. number is the number that is entered in the ledger at the time of posting entries into their respective accounts. It helps in determining whether all transactions are properly posted in their accounts. It is recorded at the time of posting and not at the time of recording the transactions.

The purpose of entering J.F. number in the ledger is because of the below given benefits.

  1. J.F. number helps in locating the entries of accounts in the journal book. In other words, J.F number helps to locate the position of the related journal entry and subsidiary book in the journal book.
  2. J.F. number in accounts ensures that recording in the books of original entry has been posted or not.

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