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 ...

The business organization chart is the blueprint for the numbering system in your general ledger, which contains all of the department accounts your business uses. Each general ledger account is ...

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 ...

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 ...