Microsoft Excel worksheets can consolidate your general ledger accounts into a trial balance worksheet for review during the closing process. When you need to review the current balances and verify ...

Reconciliations, performed in accounting to minimize errors, are basically comparisons of two different reports or documentation. Because the general ledger, or G/L, is made up of accounts, ...

The accounting cycle tracks a transaction until it’s added to your company’s financial statement. Follow this eight-step ...

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 ...

Account reconciliation is a critical process in financial accounting where internal records are compared with external documents to ensure consistency and accuracy. It helps verify that all ...

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 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, ...

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 ...