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 ...

An LLC combines the personal asset protection witnessed in a corporation with the simplicity of a partnership. Owners of a limited liability company are referred to as members. When members of the ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Khadija Khartit is a strategy, ...

The double-entry system protects your small business against costly accounting errors. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...

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 ...