Posting is a versatile term utilized across various domains including physical display, bookkeeping, civil procedure, commercial law, and property law. Its contextual meaning varies widely, from physically affixing notices to documenting transactions in financial records.
Applications of Posting
Posting in Physical Display
Definition: To affix physically in order to display.
Explanation: This form of posting involves placing notices, advertisements, or informational content on public or private property for the purpose of communicating messages to a specific audience. Common examples include:
- Public bulletins
- Job vacancy postings
- Event advertisements
Posting in Bookkeeping
Definition: To list on the company’s records, such as to list the details of sales and purchases on the accounts receivable or payable records.
Explanation: In bookkeeping, posting is the process of transferring journal entries to the ledger accounts. This is an essential step in maintaining accurate financial records. Key processes include:
- Posting Sales: Recording details from sales journal to accounts receivable.
- Posting Purchases: Recording purchase transactions to accounts payable.
Example:
Posting in Civil Procedure
Definition: Affixing certain required information as a substitute form of service of process.
Explanation: In civil law, posting involves displaying relevant legal notices in a public place when the usual means of service (such as personal delivery) are impracticable or have failed. This ensures that parties are informed of legal actions against them.
Posting in Commercial Law
Definition: Procedure that a bank follows in deciding to finally pay a negotiable instrument and in recording its payment.
Explanation: In the realm of banking, posting refers to the processes banks undertake to record the payment of negotiable instruments, such as checks. This includes:
- Verification of the instrument’s validity.
- Recording the payment in the account-holder’s records.
Posting Notices on Real Property
Definition: The exhibition of notices on real property warning potential trespassers that fishing or hunting is not permitted by the property owner.
Explanation: This form of posting is used by property owners to warn against trespassing for activities like fishing or hunting. Legal postings are usually affixed at visible locations on the property.
Special Considerations
- Accuracy in Bookkeeping: Ensure precise transfer of data to prevent discrepancies in financial records.
- Legal Compliance: Adheres to jurisdiction-specific processes for valid service of process postings in civil procedures.
- Bank Verification: Banks must follow stringent verification steps to avoid financial fraud and ensure the rightful authenicity of negotiable instruments.
Related Terms
- Journal Entry: Initial record of a financial transaction before posting.
- Service of Process: The procedure to notify a defendant about legal proceedings.
- Negotiable Instruments: Financial instruments that guarantee the payment of a specific amount.
FAQs
What is the importance of accurate posting in bookkeeping?
Can posting notices on real property serve as legal warnings?
How do banks ensure the validity of a negotiable instrument during posting?
References
- Financial Accounting Standards Board (FASB)
- Bookkeeping: Journal and Ledger, by Accountancy Literature
- Civil Procedure Rules, Local Jurisdiction Laws
- Banking Regulations, Federal Reserve
Summary
Posting is a term with diverse applications across physical displays, bookkeeping, legal procedures, banking processes, and real estate. It plays a pivotal role in ensuring accurate communication, maintaining financial integrity, upholding legal standards, and protecting property rights. Understanding the nuanced implications of posting in various contexts enhances one’s comprehension of its importance in multiple fields.
