Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

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 ...

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 ...

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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 ...

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 ...