Accounting and bookkeeping are complex practices that require the ability to keep track of countless transactions. There’s always money coming in and going out of a business. To ensure it’s all ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Amy is an ACA and the CEO and founder of ...

Maintaining a general ledger helps you gauge a business's financial health and avoid accounting mistakes. Learn what a ...

Learn how double-entry accounting records transactions twice, ensuring balance and accuracy by showing both a credit and a ...

General ledger records each transaction both as a debit and a credit, ensuring balance. Understanding the general ledger aids in interpreting financial statements like balance sheets. Investors can ...

The general ledger is a tool accountants use to record transactions. Each time a company makes a transaction, a corresponding journal entry must be made. The company then uses the general ledger to ...

Every time a company processes a payroll, it should record a payroll entry in an accounting system. Remember that your journal entry must balance all the debit entries with corresponding credit ...