The general ledger plays an important role in the accounting process. Most businesses use a two-entry financial accounting system where transactions are first recorded in a general journal and later ...
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 ...
A control account is used in bookkeeping and accounting to efficiently consolidate balances for summary and reporting purposes. They are a core accounting tool that aids ledger integrity and financial ...
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