Accounting is a detailed process for recording and reporting a company's financial information. Businesses often use several different ledgers and journals to maintain records of financial ...

A general ledger contains all balance sheet and income statement accounts. A general ledger controlling account represents a summary of transactions recorded in a subsidiary ledger. In turn, a ...

A ledger that keeps a record of the customers that a business has extended credit to and how much they owe. It also includes a compilation of their payment history and credit transactions. The ...

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 ...

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 ...