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 ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Accounting is a detailed process for recording and reporting a company's financial information. Businesses often use several different ledgers and journals to maintain records of financial ...