 Hello learners, I welcome you to this session. In this session we will discuss the unit 5 of financial accounting of become first semester. The earlier videos about this unit that is journal and subsidiary books we have discussed in the first video the journal meaning of journal, then how to enter the transactions in the journal book etcetera. And in the second video we have discussed the different subsidiary books like purchase day book sales day book etcetera. Now, in this particular session we will discuss about leisure. In this session we will cover the following topics what is leisure its meaning, then the format of the leisure, then the leisure posting, how to post a transactions in the leisure rules of posting and procedure, how to post a transactions in the leisure book. Now, let us first have a discussion on the concept of leisure. Well learners, leisure is known as the book of final entry. It is also known as secondary book. Journal is known as the primary book. In journal we have recorded the transactions on the basis of debt. The debt of taking place each transaction and we have recorded on the basis of those debts the transactions in the journal book. Now, leisure in case of leisure all transactions relating to a particular account are posted in the concerned account in the leisure book. This leisure book is the collection of different accounts. After entering the transactions in journal we post them in the leisure book. So, leisure will have the different types of accounts. It may contain purchase account, sales account, salary account, wage account etcetera. Then all the transactions from the journal to leisure will record in the particular account in the leisure book that is why leisure is known as the book of final entry. Now, let us have a look on the format of a leisure. Generally this particular format is followed. You see debt particulars J F amount it is written on both sides. The left hand side is known as debit and the right hand side the same columns are there debt particulars J F amount. So, right hand side is known as credit side of the leisure account. Now, in this particular format we have shown that we have written J F it means journal folio the page number of journal book. Now, what is leisure posting? As we have mentioned this term leisure posting what the leisure posting means? Leisure posting means transferring transactions from journal book to leisure book. So, very simply we will transfer all the transactions from the journal to the respective accounts in the leisure book. That transferring of transactions from the journal to leisure is known as leisure posting. Now, there are certain rules that need to be followed while we post the transactions from journal to leisure. First of all we have to open the account in the leisure book. For example, suppose we are entering the transactions relating to purchase account. In that case we have to see whether there is a purchase account in the leisure book or not. If it is not there we have to upon it in the format given in this way. Then all the transactions relating to a particular account should be posted to the related account means all the transactions in our case the purchase account all the transactions related to purchase account will be recorded in the purchase account. Now, the debit aspect of the transaction in the journal should be recorded or should be posted on the debit side of the concerned account means first of all we have to consider the transaction in the journal book. The debit account have to be first considered and the debit aspect in the leisure we will consider the debit aspect of the leisure and we will record the entry what we will record we will discuss it. Now credit aspect the credit aspect of a particular transaction in the journal book have to be posted in the leisure. So, again we will consider the credit aspect of the transaction in the journal and to post them in the in that particular leisure we will consider the credit aspect of the leisure. So, under credit side of the leisure a particular account will be recorded. To have a clear understanding of this procedure or rules let us have an example first. The example is purchase goods for rupees 10000 for your convenience we have just shown here the journal entry first here. So, purchase account debit to cash account this is the journal that we have entered in a journal book for the above transaction purchase goods for rupees 10000 it is a very simple transaction and we have recorded it as purchase account debit to cash account means cash account is credited and purchase account is debited in the journal and the narration is given as being goods purchased. This is a cash purchase transaction and we have entered this in the journal. Now let us move to leisure posting how to post this particular transaction from the journal to the leisure. So, in the leisure book we open the purchase account the columns are same date particular jf amount on the debit side and date particular jf amount on the credit side. If you see on the debit side of the leisure we have recorded to cash account under the particulars column. So, if you see the transaction in the journal book you will see purchase account debit to cash account. So, as purchase account is debited in the journal in the leisure book in the purchase account we have considered the debit side of purchase account and recorded the credit account. Please see this transaction again purchase account debit to cash account. So, we have posted the purchase account on the debit aspect from the journal to the leisure. Now our purpose is to transfer the cash account means the credit account in the journal to the respective account in the leisure book. So, this time the cash account in the leisure book have to be located. So, we have entered the transaction in this way. On the credit side of the leisure account we have recorded means we have posted and what we have recorded it is the purchase account means we have considered the credit aspect as the cash account is on the credit side of the journal book and in the leisure book we considered the credit side of cash account and recorded the debit account by purchase account by means the debit account. So, in this way the debit aspect and credit aspect of each transaction in the journal are transferred to the respective accounts in the leisure book. So, in this session we have discussed about the leisure that leisure is a book of final entry. Then we have discussed the transferring of transactions from journal book to leisure book. This is known as a leisure posting and we have discussed the rules of posting how to post the transactions. Thank you very much.