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 ...

Discover how adjunct accounts enhance financial reporting by increasing liability book values. Learn how they differ from contra accounts and see real-world examples.

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 ...

A small business must record all transactions related to customer sales and payments on the company's general ledger and accounts receivable ledger. Journal entries are used to record these ...