Discover how double-entry bookkeeping maintains financial balance through debits and credits in a general ledger. Understand assets, liabilities, and equity impact.

Journal entries are necessary for adjusting the balances of ledger accounts for a variety of reasons, including recognizing accruals, liabilities and other expenses. If an entry posts incorrectly, it ...

Journal entries are the basic, essential building blocks that are used to create a company's balance sheet and income statement. Adjusting journal entries are used by all companies that comply with ...

Proper bookkeeping is an unavoidable task when running a small business, but learning how to keep accounts as a business owner can be stressful. That’s why we’ve designed this simple, ...

The evolution of ledger systems can be traced back to the early days of human civilisation, where simple record-keeping forms were used to track transactions and assets. Over time, the development of ...

Accounting and bookkeeping are complex practices that require the ability to keep track of countless transactions. There’s always money coming in and going out of a business. To ensure it’s all ...

Double-Entry Accounting: What It Means and How It Works Your email has been sent Double-entry accounting is a system of recording transactions in two parts, debits and credits. This method of ...

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 ...

This article corresponds with David Mondrus’ January 29th post entitled “In Mining, We Trust” to the extent that this piece explains from an accounting perspective why a distributed public ledger ...

We are a team of writers, experimenters and researchers providing you with the best advice with zero bias or partiality. Proper bookkeeping is an unavoidable task when running a small business, but ...