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 ...

Discover how general ledgers and general journals work together in double-entry bookkeeping to track financial data accurately and efficiently for your business.

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, ...

Brex reports T-accounts as essential visual tools in accounting that clarify how transactions impact debits and credits, ...

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 ...

Discover how cash purchases impact a company's income statement and where to find detailed records in financial reports.

The general ledger is a core component of any accounting system. It's even more important, however, in an enterprise resource planning system such as SAP, in which data from a range of process modules ...

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 ...

The general ledger is a vast historical data archive of your company’s financial activities, including revenue, expenses, adjustments, account balances, and often much more. The detailed transactions ...