The general ledger is also known as the main or nominal ledger, because it holds both sides of double-entry transactions. In contrast, the purchase and sales ledgers are called subsidiary ledgers ...

Discover how double-entry bookkeeping maintains financial balance through debits and credits in a general ledger. Understand ...

The first five segments are known as the "Account String." Therefore, an Accounting Key is comprised of an Account String plus an Object Code. The first five segments of the accounting key are also ...

Accounting is a vital part of any business. To know a business' financial health, concise and current records must be kept. There are many parts to a business' accounting system, but the foundation of ...

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 ...

A journal entry is used to record an accounting transaction in the general ledger. Workday Finance replaced Financial Edge as our general ledger system effective January 1, 2024. Please note that ...

The accounting cycle tracks a transaction until it's added to your company's financial statement. Follow this eight-step process to organize the data.

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 ...