In accounting, every financial transaction is recorded by two entries on the company's books. These two transactions are called a "debit" and a "credit," and together, they form the foundation of ...

A running balance updates as new debits or credits are made, so you always see the most updated balance. Although a running balance is commonly maintained on the same Excel worksheet as the debits or ...

Learn about footings in accounting: how they function in balance sheets, their importance in finalizing balances, and a ...

A bookkeeping system is merely an established method of tracking income and expenses so that you can readily tell how your business is faring. Although specifics can vary among companies, most adhere ...

A balance sheet is a type of financial statement that lists a company's assets, liabilities, and shareholders' equity. The assets should be in "balance" and equal the total liabilities and ...

Opinions expressed by Entrepreneur contributors are their own. One of the tools that can be used to assess the performance of your business or organization is a balance sheet. A balance sheet, which ...