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 ...

The method business accountants use to record transactions of business activity into the general ledger requires that each transaction posted involves at least one debit and one credit. In standard ...

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 ...

At the end of each accounting period, a business makes adjustments to certain accounts to update its records before preparing its financial statements. An unadjusted trial balance is a chart that ...