Your business transactions must be recorded on a regular basis to create current financial statements. Financial statements are used by your accountant to prepare tax returns; by investors and lenders ...

Ledgers are used to account for all money spent and earned in the course of business operations. Using columns for debits and credits, accountants and business managers keep a running balance of ...

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, ...

The accounting cycle tracks a transaction until it’s added to your company’s financial statement. Follow this eight-step ...

How Ledgers and Journals Are Used in Accounting Get an overview of these fundamental bookkeeping tools. Ledgers and journals are the foundational tools used in the bookkeeping process. A ledger is a ...

An accounting ledger of a business that shows its expenses, transaction history, and amounts owed to each supplier. The ledger extends credit from a supplier and gives the business time to pay for the ...

What Is a General Ledger? How It Works, Importance, Examples Your email has been sent A general ledger provides a complete record of financial transactions for a business. Learn how it works, why it ...

A control account is used in bookkeeping and accounting to efficiently consolidate balances for summary and reporting purposes. They are a core accounting tool that aids ledger integrity and financial ...