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 ...

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 ...

A company’s general ledger function requires regular upkeep to streamline the number of accounts, store the most current information in readily accessible locations and contribute to a quick, ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Your business transactions must be recorded on a regular basis to create current financial statements. Financial statements are used by your accountant to prepare tax returns; by investors and lenders ...

What Is a General Ledger? How It Works, Importance, Examples Your email has been sent A general ledger provides a complete record of financial transactions for a business. Learn how it works, why it ...