The general ledger is also known as the main or nominal ledger, because it holds both sides of double-entry transactions. In contrast, the purchase and sales ledgers are called subsidiary ledgers ...

The first five segments are known as the "Account String." Therefore, an Accounting Key is comprised of an Account String plus an Object Code. The first five segments of the accounting key are also ...

A general ledger is a listing made up of accounts. Descriptions of these accounts are helpful in understanding a general ledger and navigating it. Consider descriptions as helpful hints to make ...

As a busy business owner, you may not have much interest in basic accounting principles, such as maintaining a general ledger. While most accounting activities are best left to your accountant, ...

Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software. Accounting often starts simple: a few transactions, a basic spreadsheet, and a clear ...

Account reconciliation is a critical process in financial accounting where internal records are compared with external documents to ensure consistency and accuracy. It helps verify that all ...